I just cannot get out of Gold! After taking a loss (sic) on NEM recently, today I sold 2 Sept. 29 puts to cover just before ex-Dividend in Sept. Beats MMFs.
Recent research has me worried about this slamdunk market - that most large corrections are preceded by a huge last minute rise. Being dividend-oriented, I took a position in Annaly Mtge (NLY) buying at 13.38 and just selling the 13 Call. Down from its recent $16 high, I thought it might be oversold, but it keeps slipping. Now at 11.60, if I sold the loss would be: $5361 less 293 for Calls sold, less $160 dividends, less a Sale price of $4600 (using $11.50). Net: ($308); where the ORP (lawyereze for Ordinary Reasonable Person) would have lost more than twice that - $752 ( if selling before dividends).
Another benefit of DITM! /
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