Thanks for the info. I always wondered about that. If I decide to go the put writing route I'll be sure get in contact with my broker.
For now I am slowly building a long position with the low share price so I may just continue on that route. If there's a drop below 5 that could lead to a huge buying opportunity.
PS: Anyone here follow MTL? They are a big met coal / integrated steel player based in Russia. Debt-heavy right now, mostly due to a new coal mine project that is now starting production, but they've survived that situation before.
If you want to trade Jan 4's, call up your broker and tell him to open them up for you. Strike prices are not predesignated. They exist because someone makes a market for them . Give it a shot. If not, I'll get them open for you.
Sold Sep 4's and Jan 3's. Both trading in .70 to .80 range. My margin requirement is 15%. Both returns well in excess of 100%. Annualized closer to 200%. Will they expire worthless? Who knows? Also hedged by selling some April 5 calls for 1.25 and 6's for .50. Hoping for decent gain there.
So you sold $4 strike puts? How do you figure to get 100% return doing that? My broker demands 30% margin at the strike price of the put, so on $4 that is $1.2. I don't see any puts selling for that amount right now even with JRCC at a near low.