The market continues to meltdown…
But it’s now becoming over-extended, and massively oversold, though, in need of a bounce. There’s hope we’ll see a bounce before the elections.
The other day, I recommended selling to close the Home Depot (HD) November 87.50 put options for gains ahead of November 2014 expiration. I then recommended a buy on the HD January 2015 87.50 put options, believing the underlying stock would fall even more.
Since then, Home Depot fell under $88 a share, before recovering slightly. The put now trades at $4.50 x $4.60, as of this 10:35 am EST writing. If you’re happy with current gain, consider selling to close half now.
Stay safe out there…