Thoughts on selling SKF calls

SKF has spiked to $250+, 52wk high and I'm guessing an all-time high

Dec $380 call, ask is $17.00

Thoughts on writing some of these?

Wow that was quick

Ask is now $24

I would be tempted on those..one month and the fund would need to go up 140 pts to be in the money?

Bingo

Although it can move quite a bit in a short period.  It was $150 last Friday and it did get above $250 today.  But is that sustainable?

If you think we hold the S&P lows, basically where we are now, then its a no brainer to sell those calls.  If you think we tank from here then its as LeRink put it "a quick trip to bankruptcy court"

 

you don't think that can happen with this current market? some people were calling "bottom" 2000 Dow points higher a month ago. this shit could get 1930's BAD before it gets better.

listen to rink

no naked calls

Naked calls are not my cup of tea but think about the math at the time.

380 on that would put a few of the financials out of BUSINESS, in one month.

I guess the shooter in me thinks that is pretty good odds wise to take that gamble.

Including the premium it would have to go over 400 to lose on the trade.

Prices hit as high as $51 today, somebody will be making some serious cash off this.

I just can't pull the trigger

MONSTER reversal last hour..

SKF dropped from 303 to 245 in the last hour.

at least the mkt has a name of who will be running the shit show

imagine not knowing for 3 weeks like we were...fucking irresponsible to not try and calm the mkts with information and certainty weeks ago

SKF below $200 and DEC $380 call ask is below $8.00

I really think that was a free $3,500+ per contract on Friday

That should say free $4,500+ per contract on Friday 

No doubt...

Sometimes selling the beta can be very profitable.