Strategy question

[StasDesy]

Hi All,
What do you think about the Nokia stock ?

According to my understanding of technical indicators it has just bounced of its support at 13$. In the long term it looks promissing but I'd like to expedite things a bit.

I'm thinking of selling a couple of put contracts Jul (13$) and have the money ready to buy the stock if it drops.

Any other suggestions ?

 

[lindq]

Quote from StasDesy:

Hi All,
What do you think about the Nokia stock ?

According to my understanding of technical indicators it has just bounced of its support at 13$. In the long term it looks promissing but I'd like to expedite things a bit.

I'm thinking of selling a couple of put contracts Jul (13$) and have the money ready to buy the stock if it drops.

Any other suggestions ?

You don't make sense here. If you feel that NOK has bounced off support, why sell puts and limit your gains? Are you looking for protection? If so, then you don't have confidence in any directional bet, and you shouldn't be in the stock at all.

IMO, NOK is a stock that right now is not trading on technicals, but fundamentals. And they are not at all clear as to where things will go for the company.