Taking profits on the KORS Jan. 45-strike naked puts
In the insane returns short-term naked put-writing portfolio, I bought back 40 KORS Jan. 45-strike naked puts for $30 apiece or $1,230 after commissions. They had been sold for $225 each or $8,970 after commissions on May 14. Net profits amounted to $7,745 on an investment of $27,400 for a nominal return of 28.3% in just sixteen weeks. During that time frame, the stock rose from $61.44 to $74.70 or 17.8%.
Not only was my performance considerably better than a buy-and-hold investor but I had tremendous downside protection to $45 which stock players did not have. In short, I have simply found much better methods of investing.
09/03/2013 09:38:25 Bought 40 KORS Jan 18 2014 45.0 Put @ 0.3 -1,229.96