Calls and Puts for Income Message Board

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Strategies & Market Trends : Calls and Puts for Income

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To: dealmakr who wrote (993)	7/22/2007 6:07:15 PM
From: Bridge Player	Read Replies (1) of 5891

I also like Citigroup for short naked put sales. The stock has spent nearly all of the last 9 months or so between 50 and 55, IMO building a base. John Neff in the recent Barron's likes the stock and projects a possible 20% in the next year or so, which IMO lends some downside protection. The premiums aren't huge, but the Aug 50 put was bid at 1.30 at the close, and the Sep. 50 put bid at 1.70. When combined with a 3.8% dividend yield if assigned, plus the technical support at 50, it's not too bad. As Jerome pointed out in another post, the safety aspect of bank stocks is rather appealing in today's rather heated market.

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