@Jimmy - I simply dont want to jst do the call ITM as it really doesnt give me any protection for any downward movement in the stock. This is evident by the SCCO stock in question. it jst went to 24.8. Luckly (as of now), I have not been called on. but my shitting my pants as I write this...
thnx Richard. I already tried tht for another stock and didnt get anywhre as lost some money. the reason I have bought a put is only to save me from downside. I am jst hoping it doesnt go below buyer's BE which is at 25.15 as I am certain i ll be left with the stock which is ruin my spread...
I am fairly new in terms of trading options. I know the basics of the options and have been trying to do THE MOST BASIC options spreads.
This is my recent spread i made on a mining stock SCCO (11/22/13) whn It hit a 52 weeks low. few months back when it hit its new 52 week low it shot back...
ya that is what I am worried about. as the options market for the stock does not have alot of volume so if the buyer did exc it, i'd prob get called easily. though the stock volume is not tht bad so i can def liquidate it if need be.
just out of curiosity, If i have a spread where I am selling a put which is OTM and using that credit to buy some calls and puts. how long will it be before the buyer can exercise his rights?
ie. the stock is at 25.5 and I am selling 26 SP put. which is 30 days away.
I dont want to be...
I have sold puts and made limited gains.. but missed out on the big pops.
ie. FCX last week's earning was at 34.8 i knew it was going to go past 35 FOR SURE due to all of the rates in copper and gold.
I sold the weekly put for 35 for $110. the next day the stock was at 36.5.
NOW its...
tried it like 10 times same issue.. comes busy.
the closest i came to human interaction was when they said i was 13th in que right b4 hanging up on me.