Reallifetrading
Long

BP put sale again?

NYSE:BP   BP P.L.C
Similar to rig, "we've done this before."

I don't mind owning shares. Even with 10 contracts, you will not get rich quick with this trade or this strategy. Buy low sell high.. if coming into Mid Dec             I can buy this back for less than .15 I prob would... we will see how OPEC turns out.
Comment: Buying this put sale back for .10 (locking in .17 of a gain and selling the $32 for .21 cents.
Thanks for helping us Enrich Lives!
BP approaching the down trendline.....Now, does OPEC come to more help, or the USD comes to help to move this up further, or does it correct from here. We have to wait to see.
+1 Reply
With a day like today it is worth doing Put Sells, Call Buys and then having the patience to hold, like you said.
+1 Reply
@kenny1924, YEs sir! Exactly!
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Perfect trade.....I am doing this in BP as well as buying LEAPS on it now that 2019 LEAPS are out now. OPEC or USD, it does not matter, this commodity cannot stay under $50-$60 for too long. I am banking on it, but might be completely wrong about it. Just my 2 cents.
+1 Reply
@kenny1924, Looks like we're doing well on it SO FAR.. :-)
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