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Strategies & Market Trends : Option Strategies
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To: Slumdog who wrote (1854)2/8/2017 2:34:29 PM
From: robert b furman  Read Replies (1) of 2591
 
Hi Slumdog,

Just wanted to get back to you regarding that synthetic option idea.

I wanted to have an earnings or guidance pop position on Cohu - every body else in the semi equipment sector has had better earnings and strong orders received last quarter.

This has been the case for brooks and even more importantly Ter.

Cohu makes the pick and place test handlers required for logic and now 3D nand.

Ter announced their earnings beat and guided higher as they had received a 66 boost in orders received last quarter.

As goes Ter so goes Cohu - that's my bet any how,

When Cohu was trading in the mid to high 13's I sold 20 August 12.50 puts for 90 cents $1800.).

Today as Cohu was getting pushed down on low volume I bought 20 March 17 12.50 puts @ 75 cents($1500).

I wanted more time premium on the puts and went out 2 quarters of reporting at a net price of 11.60.

If my bet on Cohu is correct regarding better guidance and possibly beating their weak guidance of last webcast (I consider it a low bar) - then I don't need to buy time (but cutting it only one day of trading till February expiration was too much of a land mine for me).

I will be at the computer at the close of the 16th when Cohu reports after hours - if time premium whittles down on the calls - I might just grab a grenade at the close.

This February 17th I will have 230 cohu 10.00 puts expire - right now looks like to 00.00.

So with that money and some dividends I also bought 4000 shares of Cohu at $12.824.

An old fashioned way of betting on a good report - if they flub it I'll exit immediately and lick my wounds for gambling and not investing.

I do appreciate the new approach and idea.

I now have $300.00 more dollars in my account and some one to blame if it doesn't work out. LMAO Not Really

Thanks

Bob
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