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.
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