I just put in order for 400 strike Sept. calls for .70 each. Let's see how it goes, but if we hit $24, I get to sell these for approximately $1.70 to $1.80. I don't normally do OTM, but I figure why not. $28,000 for 400 calls. Anyway, I am getting a little gutsy here, but listening to REIKREIK's view that this is a bit of high price. I will adjust my order depending on pre-trade. I still think $22 to $24 is pretty good. 16.91 is the implied volatility, so that is seems like a good price. As I say I will sdust as the market opens, but I need a good OTM test. Who was it that absolutely claned up on something like 1,400 OTM contracts in aGNC two quarters ago.
If anyone see something wrong with OTM or has a story, let me know.
I'm with you on the Sept 22.50 calls. Warmed up today by selling a few Sept 22.50 and 25 puts and will sell more tomorrow. Didn't have a s much company as I expected on the put sales; guess everyone was waiting for the SPO announcement...
I think the giganto-trade in AGNC was Roym for 1995 contracts. I hope your MTGE trade works out as well (as I will be riding along, too).