Unless the whole market crashes. PFE is doing a smart thing of buying small generic drug companies in anticipation of the expiration of their Lipitor patent next year. I am selling $16 and $17 strike November and December Puts, and selling Dec $18 strike covered calls.
The stock is going Ex-Div around November 4th giving also a nice $0.18 dividend. Shorts better Cover...haha !!
PFE again pushing toward $17 today in a big down market. Hope it closes above $17 by the options expiration time a week from this Friday so can again write naked December $17 strike options. Anyway, I am prepared to buy 3000 shares at $17 if the November $17 Strike price is exercised, and the stock is put to me.
Being overly concerned with a temporary breach of a round number is definitely NOT the way to go.
Let others sell and throw away their stock on prints in the 16's. YOU should be adding to holdings at these gift prices.
I just dont understand wtf PFE is doing that gets them into trouble and gets no respect. With all the resources they have, they should be trading at $20 easily. There is something inherently wrong with Kindler's management like a self-inflicted attack.