That butterfly was a bad bet in my opinion.
Funny is I wrote a bunch of calls on my prexisting GE stock yesterday with a strike of 13 for Feb. at 1.36
Cash in on that Theta
(I wrote puts for 13 for GE FEB as well cash secured to either acquire new shares or capture premium. )
My puts are deep in the money but I wrote them for some good premium so my costbasis will be nice.
But those calls I wrote, wow price implosion from thursday to friday.
So come feb I will own lots of GE or NO GE.
Anyhow GE has been good to me Premium cashcow + dividends.
Funny is I wrote a bunch of calls on my prexisting GE stock yesterday with a strike of 13 for Feb. at 1.36
Cash in on that Theta
(I wrote puts for 13 for GE FEB as well cash secured to either acquire new shares or capture premium. )
My puts are deep in the money but I wrote them for some good premium so my costbasis will be nice.
But those calls I wrote, wow price implosion from thursday to friday.
So come feb I will own lots of GE or NO GE.
Anyhow GE has been good to me
Premium cashcow + dividends.