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New Option Trade PUT VLO

Posted by Daniel Iuculano on April 29, 2016 - 4:42pm Edited 4/29 at 7:47pm


Trading an Option on VLO

Strategy behind this trade - I decided to buy VLO, however I like the price below $54 so rather than buying at current price levels, I sold 2 contacts (200 shares) Put $50 for Jun 17. If the price drops to $50 or less I will be assigned the stock otherwise I keep the premium when the contract expires in June.

Never sell a put on any stock or index you wouldn't mind owning in case you get assigned the shares.

Sold 2 contract a few moments ago Sell to Open VLO PUT $50 Jun 17 @$0.66

VLO is current trading around $58.92 a share , 52 week low is above $51

I decided to buy at $50 (discount to current price) so I entered a Put at $50 to expire in Jun

If assigned I will have saved the difference at the current price, if expires worthless I gained the premium of .66 per share.

Dan Iuculano

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