Alcoa (AA) Update

I read a good article on Yahoo! today that reinforced my Alcoa (AA) naked put selling and my post that went with it on 5/22. So far, it seems I made the right move, but I don’t see AA as the best place to sell new naked puts for now. This Yahoo! article makes a good point about the take over deal likely to not materialize. Looking at the chart you can see that AA is at the top of its upwardly trending trading channel now and is likely due for a pull back a little. I don’t see it coming back enough to give me trouble on my three July 37.50 naked puts.

Technorati Tags: naked puts, investing, stocks, options

Read more on Alcoa, Yahoo! at Wikinvest

Comments Off

* If you like this post, then consider subscribing to my Full RSS feed or my email updates.

DISCLAIMER: While I am a Registered Investment Advisor Representative, the information contained within this site does not constitue personalized investment advice. This material is meant as entertainment and is only a view into how I invest my own account, but not necessarily how you should invest your own funds. Trade using your own research at your own risk. This is impersonal investment advice which means the material written here, in email exchanges, on Twitter and/or other social networking sites do not purport to meet the objectives or needs of specific individuals or accounts.

Head to my home page to read more of my naked puts and covered calls trade details.