rino, bob_hop

Re: Couldn't take it - had to buy some more 5 minutes ago You should be selling puts and buying calls on RINO creating a synthetic long position with options, not buying the actual stock.
Google "option reversal" to learn about how to do this if you are not already familiar with the idea.

With the stock trading at 19.38, could sell the May 20 puts for 2.40 or 2.45 and buy the May 20 calls for 1.15, you should net 1.25 or 1.30 minus commissions. Or essentially you have bought the stock at 18.7 or 18.75, some 60 cents less than where it is trading at. If stock below 20 in 5 weeks it gets put to you at a price of 20, minus of course the 1.25 you already netted, so your cost is 18.75. If stock is over 20 in 5 weeks, your calls are in the money and you can exercise the stock buying it for 20 or simply sell your calls at that time. Rating :
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