I was looking to write some calls earlier in the week but didn't see anything that would have justified the risk of getting taken out too early.
Cash burn was a bit over 8 million, so that 2 quarters and they have about 20 million in debt they can pull from.
I recently bought a Saitek x-55 Rhino HOTA which sells for $200.00. It was terrible and I returned it. I come across a lot of complaints about poor quality of Saitek products.
Problem with Madcatz is that they make overpriced poor quality products. I remember someone recommending it more than a year ago on this board and it was trading higher at that time. I decided to stay away based on my opinion of their products.
That part I get. I made some money selling IMOS calls. I only have Level 2 option trading approved so I can't sell any puts. When I get approved for Level 3 I would be able to sell covered puts only. That is why I did not understand your advice to sell puts if he has a lot of shares. I guess it would be fine if he can sell uncovered puts but that is risky as he would have to sell something at possibly too low price to cover the puts if needed.
I don't get that about selling puts if you own a lot of stock especially if they are covered puts (need to keep cash in the account). Wouldn't you be selling calls if you have a lot of stock? Do you mind explaining that a little bit to someone who is still learning?