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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (5659)1/31/2013 9:55:37 AM
From: Bocor  Read Replies (1) of 5891
 
Took a shot at selling the Feb 85's on LMT. The yield has more than quadrupled over the past 5 years, and the company plans to continue buybacks. Lockheed Martin has a large economic moat to ward off competition. It's recession-like P/E it seems to have already priced in a lot of the defense cuts, and with the M.E. in turmoil, I can't imagine much else being cut. Seems to be some support in the 86 area.

I will take that yield at 85, and wait if I get assigned.
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