With the stock at $37.18, I bought back the 30 TEVA Jan. 35-strike naked puts for $20 apiece or $625 after commissions. They had originally been sold on May 2 for $59 each or $1,145 net at a time when the stock was trading at $43.18.
Net profits after commissions amounted to $1,120 or 9.1% of the $12,330 required cash deposit despite the fact that the stock tanked by 16.2%. This is a hallmark of my superior options methods; I turn routine buy-and-hold stock losses into handsome options gains unless the stock is just a bottomless pit or the market crashes.
12/28/2012 15:49:05 Bought 30 TEVA Jan 19 2013 35.0 Put @ 0.2 -624.01