While doing some research with the option scanner at Trade King I did some quick research on IIG. It has big volatility and looks like it is in for some bad news. They have an earnings release on February 6.
So I bought a Feb25 put. This is not what my strategy is for this account, but it seems like a no brainer. Will know in a couple of weeks whether I have a brain!
Depending on what happens next week, I may still be able to buy the stock, sell a call and lock in a bunch of time premium. I haven’t quite worked out the math yet.
From my years in Las Vegas this would be like trying to take the middle when betting on a game.
Here’s to easy money!