Investors are busy taking profits and adjusting portfolios. Many stocks have had a nice run-up and investors are taking their profits which is keeping the S&P more sideways than up or down.
I setup a few trades in some stocks that are being sold lower this morning. These types of trades are not for everyone. I would own these stocks so I am not concerned but other investors who would not own shares may want to wait for these stocks to stop dropping.
Pfizer Stock (PFE)
It’s hard to get much premium selling put options in Pfizer Stock (PFE) unless the stock is pulling back. Today’s drop is helping my trades.
Sold 10 put contracts of Mar 15 expiry at the $41 put strike for $0.27
I am bidding 2 cents to buy 10 of the $37 put strike to turn this into a credit put spread.
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. You always trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. The author assumes no liability for your investment decisions. Read the full disclaimer.