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Msg  17378 of 17481  at  9/25/2021 10:18:56 AM  by


The following message was updated on 9/25/2021 10:26:50 AM.

 In response to msg 17376 by  esdbass
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Re: Sell vaccines day

 I would not be surprised to learn the pro option writers ganged up on the stock to take out the 450s and 440s which were both in the money at the close Thursday and get the 430s to a peanuts loss to fill.
I was fully expecting my short 440s and 450s to be called and was happy about it, as they produced nice flip gains. I never expected the 460s and 470s to be called this week absent FDA news, so I sold them Thursday as they too would produce nice flip gains. My limit price on 10, 480s wasn't reached.
So, yesterday when it became obvious that forfeited premiums on all 4 positions would pay my entire margin interest for about two months, I bought another flip lot. Now I can sell 70 calls next week. I'll probably sell laddered strikes totaling 50 calls when I get my desired premiums, holding 2 flip lots in reserve to sell calls on after an FDA-induced spike in price if such a spike comes.
There are 3 applications pending at FDA which, IMO, are not a matter of if approved, but only a matter of when. I prefer sooner rather than later because PFE's monopoly over a big segment of the population is likely to become permanent.
Nevertheless, from a trading standpoint, Fidelity's money is carrying flip lots and forfeited option premiums are more than paying the interest. Under these conditions, I can wait a long, long time.

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Msg # Subject Author Recs Date Posted
17381 Re: Sell vaccines day esdbass 0 9/27/2021 9:59:07 AM

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