hmmmnnn
you meant short put / long call, and
the trade does seem to have much merit, looking at XOM, for example
tolerable debt level, juicy dividend yield, enough reserve, not yet zombie,
current price at 39, can go to March low of 31, and likely no lower
January 2022 Put strike 37.5 sports premium of ~6.35, and if put, gets us in at 37.5 - 6.35 = 31.15, reliving March 2020, which at the time was very pleasant
Can spend 2.35 on January 2022 Call strike 50, pocket the (6.35 - 2.35) 4.00 by buying gold or (better) silver.
Should Tipranks be correct and the beast heads to 48.3, the call could double / triple depending on time-left-to-expiration, and the puts expire worthless, leaving us with gold to show for the effort, plus more gold purchasable w/ gains on calls.
Wait for the Fed to do the wet work.
I think I just heard Michael Caine voicing-over, "lads, I have an idea"
finance.yahoo.com
tipranks.com
finviz.com
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