[Opening Bullish Put Spread on Lincare (LNCR)/Buying Oct 27.50 puts (LQNVY) and selling Oct 30 puts (LQNVF)/Spread order limit $0.75 credit for the day]
Dear Member,
Lincare Holdings (LNCR) with a relatively low P/E and a decent earnings history has bounced off support. I am opening a bullish credit spread by buying the Oct 27.50 puts (LQNVY) and selling the Oct 30 puts (LQNVF) for a net credit of $0.75. If no adjustments are necessary and the stock stays above $30, there would be a return on risk of 42.8% at expiration.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
CutLoss, Inc.
|
