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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 65.17+1.6%3:59 PM EST
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To: Geoff who wrote (2294)9/10/1998 10:12:00 AM
From: md1derful  Read Replies (1) of 6439
 
Geoff: The puts are basically uncovered and imo should only be written on a stock in a definite uptrend and well out of the money..for example a few days ago, I was able to write (ie. short) some Oct. 40 puts on mo when the stock had fallen into the 41 range and got 1 1/4 for them, not bad...I expect to allow these to expire worthless in oct. Your risk could be big however if the stock moves against you...thus I ALWAYS have an exit strategy on all short options before placing the order.
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