puts started exploding upwards.Better to realize this thing is overvalued now than next week when this is at $40, or even lower.Only looming ex-div is holding it up right now.
What price you think is reasonable for JNK? TIA
I got in at the low $38's, and it had a higher payout. I have a real problem paying over mid 38's with it's shrinking payout.
I think 40 is the highest I could call reasonable.The risk here is that the market is extremely overbought right now and could very easily fall 500 points over the next few months. This would cause JNK to fall to near 39.00