Friday June 19 saw my naked puts at the $67.50 put strike on Packaging Corp of America (PKG) stock expire out of the money thanks to a recovery in the stock. This morning the stock is back declining again. Although I could find no concrete reasons for the decline I believe it is probably a reaction to the recent rally in the stock. The decline today was lower than the decline on June 15 when the stock got down to $66.67 and could be setting the stock up for a further decline this week.
This is a Trade Alert and discussion for FullyInformed Members on PKG Stock. Packaging Corp of America which in 2013 bought out its rival Boise Inc is the world leader in corrugated container products. It also has the highest dividend in the paper packaging industry.
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