Hello Instant Money Traders,
International Paper (IP)
It’s time to hop back into IP!
We recently closed a profitable put-sell position on IP and now it’s time to go for more. With IP stock down $1.70 per share as I type, it’s a good time to sell some inflated put options.
Since I expect the market to go down more at some time in the near future, I want to stay well out-of-the-money with the strike prices we sell since that gives us more margin for error. Even though I expect to see a decline – which could inflate the put option prices even more – no one can get the timing down perfectly. So we’re going to sell some now.
But we’re going to sell the options in two parts, so read the instructions fully before executing.
Here’s what you need to do:
Sell a half position in the IP October 2010 $17.50 put options for a limit sell price of $.30 per contract or higher, GTC, as an opening transaction (sell-to-open).
And
Sell a half position in the IP January 2011 $15.00 put options for a limit sell price of $.45 per contract or higher, GTC, as an opening transaction (sell-to-open).
Right now, the market on these options are $.30 bid & $.45 bid respectively, so we’ll be able to get the first ones off. If you don’t get filled right away, keep your orders working GTC.
If you are accustomed to only selling one contract at a time as your position limit, then you need to decide which contract month you’d like to choose. Otherwise, sell an equal amount of each.
Let us know if you get filled: editor@whitecapresearch.com
Regards,
Lee
———————-
Current Portfolio:
MSFT Oct ’10 $22.50 put
Opened 07/12/10 – sold put for $.77
Current Price: $.33
Current Stock Price: $26.09
Status: Ok to enter new put-sell positions at $.53 or better, only if you do not already have this position on
DOW Sep ’10 $20.00 put
Opened 05/13/10 – sold put for $.47
Current Price: $.20
Current Stock Price: $27.18
Status: Ok to establish new trades at $.47 or higher, only if you do not already have this position on
MSFT Jan ’11 $17.50 put
Opened 05/20/10 – sold put for $.58
Current Price: $.28
Current Stock Price: $26.09
Status: Ok to enter new half position trades at $.50 or higher, only if you do not already have this position on
INTC Jan ’11 $12.50 put
Opened 05/20/10 – sold put for $.48
Current Price: $.18
Current Stock Price: $21.48
Status: Ok to enter new half position trades at $.45 or higher, only if you do not already have this position on
HD Aug ’10 $25.00 put
Opened 05/18/10 – sold put for $.32
Current Price: $.15
Current Stock Price: $28.39
Status: Ok to enter new trades at $.30 or higher, only if you do not already have this position on
JCP Jan ’11 $15.00 put
Opened 06/17/10 – sold put for $.42
Current Price: $.33
Current Stock Price: $25.44
Status: Ok to enter new trades at $.40 or higher, only if you do not already have this position on
GT Jan ’11 $7.50 put
Opened 06/24/10 – sold put for $.40
Current Price: $.29
Current Stock Price: $12.00
Status: Ok to enter new trades at $.40 or higher, only if you do not already have this position on
GE Jan ’11 $10.00 put
Opened 06/29/10 – sold put for $.40
Current Price: $.22
Current Stock Price: $16.00
Status: Ok to enter new trades at $.40 or higher, only if you do not already have this position on