Today around 10:30ish I sold to open 1 FSLR April 70 put for $.70 and received $67.05 after commissions. FSLR has had a rocky road lately, and I decided to capitalize after it took a beating yesterday. When I sold this, FSLR was at 117.05, which means the 70 is 40.2% OTM. The margin requirement is $762.50 and if this expires worthless in April, the ROM is 9.18%, and 64.45% annualized.
Time value will kick in soon, as long as FSLR doesn't tank beyond all reason.
The market is surging lately and I'm actually not sure what to do. Going long on a strong stock is obvious, but I'm not sure what to pick. Oh well, maybe I'll figure something out.
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