1machoduck

A Crocs Play for Chickens

Here's my play: sold naked April Put for $2.10 was assigned stock, (Crox cost: 10.40) I figured it would be at least $11 on expiration Friday...Ok we missed that one and paid .18 cents over close, no problem.
Next week we will wait for pop to $11 then will sell May 12 call for about 1.50, (29% return) if we don't get that move next week, following week we will sell May 12 Call at .60 or .70 ... if assigned (fingers, legs and eyes crossed) we'll rack up a 21% plus return. Not bad for a 30 day play, if not called away then a measly 6 or 7% will have to do.
Our feeling is the stock just got beat up...the product is a winner and still has big time sales ahead!