By Paul Price at Market Shadows
Market Shadows sold 1 each of the ANF Jan. 2015 $30 and $35 puts this morning while the shares were down by about 20%. These will be new additions to our Virtual Put Selling Portfolio.
We received $3.60 per share for the $30 strike and $5.80 for the $35 strike, giving us break-even levels of $26.40 and $29.20 respectively. ANF shares were trading at $37.90 as of 9:40 AM EDT.
I'll write more about why I like this play later.
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