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Dow Chemical (DOW) Profits
December 03, 2008Dear Fellow Options Trader,
On Nov. 24, we recommended Selling to Open the Dow Chemical (DOW) Dec. 17.50 Puts (DOWXW) for $1.10 or better. Today, we can buy back these puts for 55 cents and capture a 50% gain.
The market, DOW and the options are volatile today, so place a limit order and be patient. If we do not get the 55-cent price today, we do not see an immediate need for urgency in the trade. Time is on our side and we can wait for the exit opportunity to come on our terms.
Have a great day trading.
Nick Atkeson and Andrew Houghton
