I'm joining you with a small position in FSC tomorrow, are you entering at opening or end of day?
I'm also shorting BMY via long puts and will add more if it keeps climbing.
RIMM has climbed a lot in anticipation of the new blackberry coming out end of month. I want to take a short position but the put premiums are so crazy high. I tried to short calls but my broker doesn't let me. What do you do when you want to take a short position on a stock with high premiums other then shorting shares?
It depends on your time line and anticipated PPS by OPEX. When the premiums are high I look for a spread. As an example, look at Feb 16, on the 19/18 Put Spread for a cost of .60, today. If Rimm is trading at 18 or less by Feb 16, you pocket .40.
I will be in it with you Doc, going to trade this one in my taxable account so I can short on XDIV, plan on doing all parts of the trade and keeping records on it for the year. It will be interesting. Also buying half position today and shopping for 2nd half. Bow
You are right, it should be entertaining! I just stuck my toe in with 3000 shares. I hope to be up to 10,000 by days end, with another 10,000 for the rest of the month on any weakness. Good luck to us and all longs.