[Opening Naked Put Position in Taser International (TASR)]
Dear Member:
After a retracement, Taser International (TASR) has bounced off a double bottom support. Implied volatility is in the higher percentiles and that indicates the options are high priced so I am placing an order to sell the Sept 15 puts (QURUC) naked at a limit of $1.15. I need do nothing as long as the stock stays above $15 expiration. If I am filled and the stock should be put to me (which I will try to avoid) at $15 a share, my actual cost would only be $13.85 since the market would have paid me $1.15 up front.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
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