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Forum - Writing Options (Direxion Shares ETF Trust Small Cap Bull 3x - TNA)    For those interested in writing calls, puts, and spreads

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From: grdngkko (Rep: 51) reply to Bender24Date: 02/21/2013 18:38
Forum: Writing Options - Msg #962 - List TNA msgs Thread #673504039 (Rec: 0)
Re: Wrote Mar 62 puts @ .55

one good thing about a sharp decline (if there ever is a good thing) is the improved premiums. I wasn't comfortable writing puts in the 80s or FAS in the 150s after the sharp runup the past 3 months but this pullback has provided an opportunity to write puts at a lower level. Of course, it can go much lower. A 7% pullback in IWM from the highs could take TNA into the mid 60s. I am heavy in cash so I wouldn't mind starting a position at that level. I also wrote some weekly 70s early this am @ .41. Also short 1 AAPL 435 put expires tomorrow. AAPL not acting well so I may take a break on that one. If the 435 level doesn't hold, it could drop to 400, imo. We'll see how the next few days go. Good luck!

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Reply to Bender24 - Msg #961 - 02/21/2013 15:19

Wrote Mar 62 puts @ .55
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