Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Contact us: support@philstockworld.com
© Copyright - PSW, LLC.
2024
August 3rd, 2017 at 4:27 pm
Phil, Thank you in advance for the education that I am about to receive, it continues to be priceless. I took a position in IMAX a while ago. While the runway is 5 months out, I am wondering if I should buy back my short position in the BCS. Or, should I be patient and do nothing, roll, or ???
The position is as follows:
DEC17 $23($4.00)/$28($1.30) BCS Now, $1/$0.30
DEC17 $29 PUT
I hope that makes sense.
I ask cos, I had a similar situation with GNC last month. I closed out the short side (70% of premium) after the stock dropped, then Q2 numbers improved my long position and it provided me an opportunity to exercise at a profit and now I am selling premiums to lower my basis. Not sure if I executed this correctly, but it ended up working out nicely. I was going to do the same with IMAX, however, there is quite a bit of time left. thoughts??