Comments on: Sold USO (Oil ETF) Naked Puts http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/ Investing in Stocks Through Options Thu, 18 Mar 2010 01:55:21 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Alex Fotopoulos http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5574 Alex Fotopoulos Mon, 12 Jan 2009 17:29:55 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5574 Yeah, I've been debating it since it started turning back lower. If my option expired right now, 12:25 pm on 1/12/09, I'd have a profit. I agree oil will likely head lower, but for how long I don't know. I've been thinking of selling some way out of the money calls for extra cash to cushion my downside, but not a real hedge. I'm still debating it though. Yeah, I’ve been debating it since it started turning back lower. If my option expired right now, 12:25 pm on 1/12/09, I’d have a profit. I agree oil will likely head lower, but for how long I don’t know. I’ve been thinking of selling some way out of the money calls for extra cash to cushion my downside, but not a real hedge. I’m still debating it though.

]]> By: Super Saver http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5573 Super Saver Mon, 12 Jan 2009 15:04:23 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5573 Alex, Do you have any update on your thinking about USO? I was considering selling puts a few days ago, but had not done so. Now that USO fell below $31 today, I'm thinking oil may fall further. For reference, I have been remarkably wrong in predicting the market direction recently. It always seems to go the opposite :-) Thanks. Alex,

Do you have any update on your thinking about USO? I was considering selling puts a few days ago, but had not done so. Now that USO fell below $31 today, I’m thinking oil may fall further.

For reference, I have been remarkably wrong in predicting the market direction recently. It always seems to go the opposite :-)

Thanks.

]]> By: HM http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5550 HM Thu, 08 Jan 2009 18:53:42 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5550 Thanks for the tip. I pulled the trigger yesterday on some Jan 31 Puts. Thanks for the tip. I pulled the trigger yesterday on some Jan 31 Puts.

]]> By: Alex Fotopoulos http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5545 Alex Fotopoulos Wed, 07 Jan 2009 23:53:19 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5545 Yep, I knew I was jumping the gun on USO yesterday, but did it anyway. Did you see MON today? It was up almost 20%. That means my covered call strike was a little too low, but it could come back some from here or I might sell new naked puts at the same strike as my covered call so I "win" on at least one of them. Yep, I knew I was jumping the gun on USO yesterday, but did it anyway. Did you see MON today? It was up almost 20%. That means my covered call strike was a little too low, but it could come back some from here or I might sell new naked puts at the same strike as my covered call so I “win” on at least one of them.

]]> By: Premium Collector http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5542 Premium Collector Wed, 07 Jan 2009 16:04:38 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5542 with the drop in oil today we might be getting close to a nice setup to sell puts...I might wait for a support level since oil has shown the ability to free fall with the drop in oil today we might be getting close to a nice setup to sell puts…I might wait for a support level since oil has shown the ability to free fall

]]> By: Super Saver http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5540 Super Saver Wed, 07 Jan 2009 12:56:15 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5540 I like the idea of selling naked put on stocks and ETFs that I'd like to own. I was doing it late last year for MON and ENER when the market was declining, but I've stopped since the market started a (small) recovery. I am going to give consideration to selling a naked put on USO since I expect that Oil will go back up again sometime in the future. I like the idea of selling naked put on stocks and ETFs that I’d like to own. I was doing it late last year for MON and ENER when the market was declining, but I’ve stopped since the market started a (small) recovery. I am going to give consideration to selling a naked put on USO since I expect that Oil will go back up again sometime in the future.

]]> By: Premium Collector http://mytradersjournal.com/stock-options/2009/01/06/sold-uso-oil-etf-naked-puts/comment-page-1/#comment-5539 Premium Collector Wed, 07 Jan 2009 03:08:26 +0000 http://mytradersjournal.com/stock-options/?p=1579#comment-5539 nice, conservative trade...if put to you your basis will be near the 52 week low...highly unlikely at this point IMO...good luck with it nice, conservative trade…if put to you your basis will be near the 52 week low…highly unlikely at this point IMO…good luck with it

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