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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK ASSET: AFTERNOON WRAP 21 JANUARY: | ASX gains 0.8pc | Greenhouse study shows AVZ Minerals could achieve lowest carbon footprint at Manono lithium-tin project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 22 JANUARY: | ASX up 1.3pc in huge week for Zip, Lynas | iCandy looks to double up in Chinese gaming market with Rocky Rampage launch |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

    The Cotton Row Journal, week of 18-22 Jan

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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Which Option Strategy To Use For A Potash Bounce (POT)

Benzinga by Benzinga
Friday, August 9, 2013
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Which Option Strategy To Use For A Potash Bounce (POT)
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You see a stock you want to get long in and want to trade options on it, but don’t know which ones to trade.

Do you go long calls, short puts, or something else entirely? There are multiple ways to go long a stock so it can be confusing which one to go with.

Here is the stock in question

potash

 

Potash (NYSE: POT) took a dive on earnings last week and since then it has moved nowhere. $29 looks like it could be the bottom for Potash, at least in the short term. Using options you can get long Potash by going long calls, long call spreads, short puts, or short put spreads. These are not the only ways to get long a stock with options but these are best suited for our current situation.

Which strategy do you pick?
pick

One of the first things you look at is volatility. With this recent drop in stock price it has pushed volatility to 47.08 percent. This is not the highest volatility for Potash in the last two years but it is nowhere near the lowest or average.

If you expect the stock to rise in price then volatility will begin to drop. Today the stock went up 0.6 percent and volatility dropped 7.8 percent. Dropping volatility will hurt a call or call spread’s price. So how do you put a rising stock price and dropping volatility in your favor? You use short puts and short put spreads.

The short put spread you want to look at is the September 30/28 put spread. This means you want to sell the September 30 strike and buy the September 28 strike.

strike
You want to do this for a credit of 1.02 per 1 lot. Your breakeven price on this trade is going to be $29, which is under Potash support. The max you want to risk on this trade is 50 cents. If Potash is above $30 by September expiration then you will receive your full credit. It is unlikely that you will wait for September expiration. You will look to close out the trade when you can get 50 percent of our credit.

Adam Beaty is a weekly options expert and can often be found quoted or writing for Benzinga and Wall Street Journal. He’s the founder of The Options Prophet; an interactive newsletter, which builds consistency through trading credit spreads.
Sign Up Here To Receive Free Updates From Adam Beaty.

 

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