Massy was involved in the coal mine explosion and I think the stock will continue to decline until the liabilities are resolved. I suggest that the Jan.11c strike be sold for 7.45 which will bring you cost base down to $34.50. If mee continues to fall, and the call premium declines to $1.50, you could roll the call to pick up some more premium. Also, you could use some of that $7,450 premium to pick up some oct.27 puts and sell jul.25 puts to help offset some of the put costs. Or just sell mee and move on.
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