I note with interest while reading some of the messages on this board how some responders pay attention to the number of stars apportioned to each message.
Well, we all know Ruffturd Clint Stockwood, Carolharold (all the same person) spends the entire day rating his own messages. Self-rating has no meaning and is worth nothing. It's rather odd that a man his age wouldn't know that.
Self praise is no praise at all. So, grow up and act your age and only then will you start to draw attention. You should have learned this in school many years ago or your parents should have made you aware of this when you were small.
Recently, I have noticed you give my posts more single stars than you give others. I appreciate the recognition. I do get some measure of satisfaction knowing I get under your skin simply by using facts.
I'm obviously not bubblyjoe51 but I'll tell you something about GE. It has 10-strike puts out to Jan. 2012 that were selling for $61 apiece on the bid side on 9/16/10 when I decided to sell 100 of them in my new, 100K naked put-writing portfolio. A few days later, I sold 20 more at $57.
All told, I garnered $7,170 in up-front cash after commissions for an initial deposit on my part of $19,530.
The stock has gained about 11% since then which has resulted in the fact that the puts are now quoted at $25 asked and for $3,100 after commissions, I can buy back all 120 of them.
So in just 15.6 weeks, I have paper profits of $4,070 on a cash investment of $19,530. And that would be a return of 20.8% which is 90% more than a buy-and-hold investor would have.
And I have made this money despite the fact that I didn't even know the company had some Mexican mortgages. Not that it would have mattered any.
If you should have any further questions about GE, be sure and ask the Options Whale and Master Options Strategist for crying out loud.