Sold BNI Naked Put

After writing about Burlington Northern Sante Fe (BNI) a few weeks ago I might have misjudged this one today. I put a limit in for BNI this morning based on the idea that the chart looked like it would pull back a little bit sometime in the next few days. The premiums were nothing special this morning, but on a slight pullback could be good. That pull back happened sooner than I thought and the premiums jumped quicker than I thought they would. While BNI traded at 80.77 I sold one November 80 naked put (BNIWP) and received $309.25 after commissions.

I am happy that I waited for the order to the extent that I didn’t go in a market price, so overall I still like the trade.

Technorati Tags: naked puts, investing, stocks, options, covered calls, options strategies, trade, trading journal, trader’s journal, stock journal, finance

More on this topic (What's this?)

Company Review - Burlington Northern Santa Fe (ModernGraham.com, 1/9/07)

Bruce Greenwald, David Winters, Tom Russo, And Bob Olstein On Bloomberg TV Part II (ValueWalk.com, 4/26/10)

Wednesday Portfolio Moves (Phil’s Stock World - Members S..., 4/4/07)

Chart of the Day – What Buffett Sees in BNI (FreeTradePicks.com, 12/4/09)

Read more on Burlington Northern Santa Fe 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.