A couple of trades this week to avert disaster. The chart on Intel looks as bad as many dividend-paying stocks that are being sold now (per Barron's top 50 dividend payers were down 6%, bottom 50 are up 6% YTD). Plus INTC's future doesn't look to rosy. Sold the stock for a slight loss, but thanks to DITM and a put rollup, I made a profit overall of nearly 3% in 9 months.
Not so good on my Leap Strangle of FCX , put on in Jan. of this year. Again, the future of commodities, along with global economies, looks longer term than expected - China, Europe, et.al.
Overall loss was $1100 on 200 shares with the stock down over 6 points. Strangle saved me about $200, as I had to buy back the put much higher, and the dividend was cut.
No comments:
Post a Comment