DWA Falls Deeper
I wrote three naked puts on DWA nearly a month ago only to see it continue to fall. I still like it long term, but whatever is going against it is certainly punishing the stock in the near term. Maybe it’s the writers’ strike. I can’t find an article that tells me, so that’s just a guess. The box office for Bee Movie has been less than some hoped for, but this seems like more of a beating than should be issued.
I decided to lessen my losses this morning by selling calls on it with the assumption that I’ll be buying the stock in three weeks when December options expire. DWA was down again and I entered a limit to sell three January 30 calls for .45, the bid ask was .35/.50. I waited a little and decided to reduce it to .40. I waited not much longer and decided I […]
Original post by Alex Fotopoulos