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Pfizer Inc. Message Board

  • fizrwinnr11 fizrwinnr11 Oct 16, 2012 11:19 AM Flag

    Early out in the maligned financials naked put-writing portfolio

    Bought back 60 contracts of C Jan 18-strike naked puts for $6 each or $400 after commissions. They had been sold on March 60 for $48 apiece or $2,840 after commissions with cash margin requirements being $13,920. Nominal profits amounted to $2,440 or 17.3% for seven months.

    Oh yes - one other thing. The stock was at $36.48 when I sold the puts and $36.75 when I bought them back. So while buy-and-hold investors had less than 1% profits, I have 17.3% profits to show for my seven-month investment and I had a ton of downside safety that buy-and-hold investors never had.

    10/16/2012 10:57:49 Bought 17 C Jan 19 2013 18.0 Put @ 0.06 -118.64
    10/16/2012 10:57:49 Bought 43 C Jan 19 2013 18.0 Put @ 0.06 -282.39

    Sentiment: Buy

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