Earnings, revenue and new awards along with new award margins all declining. Will take a long time to turn this around. Stock expectation is still for only a couple of quarters of lower earnings before resume normal 15% annual growth. Could have a major fall out somewhere along the way. Better to hold short than puts, as timing is too hard.
thats way out of the money so the premium cant be much.... but what ever you sold them for it should be a slam dunk. I like to do straddles. I recently sold the the aug 40 put at $3.80 and covered today.
Keep us posted on your put contract - whether you made a profit or let it expire worthless.
JEC like most infrastructure stocks has languish (FLR, MDR but not URS), but has not retested its 52-week low. Can happen, with the right combination of market correction and release of their lower earnings for quarter ending 6/30/09.
Timing is everything, as JEC need to base several more months, before it can retest 50+ but can't see it go 90+. Extreme buy and sell points always exist, IMO.
Is crazy, no reason for it to be going down. Jec has good balance sheet and even a better one is joyg re value. jec was just recommended at 40 and went up, there is no reason for this action but the chart has broken down.