Not a great way to start the year, but I was forced to cut short my losses in the LEAP Strangle on AVP (Avon) which has been circling the drain for years. At a 2013 high of $24, I bought the stock at $14.45 but had to give up at $8.70! Chart shows no hope of this major old company surviving. It is the first time I have lost money on both the stock and the options, not being protected by the Leaps in all other losing cases. Loss on 500 shares bought just last May was $2898 on the stock and $1158 net on both Puts and Calls - Totaling $3996 after $60 back in dividends -whoopee!
Gold is starting to rally in 2015, but there is small hope there yet, with the $ so strong.
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