Monday, December 7, 2009

Opened HPQ bull put spread at 49.30

I've opened a January bull put spread on HPQ with the underlying trading at 49.30. The spread, which gave me 0.49 in credit, is structured as long the 50s, short the 49s: p50/-p49.

The 50 strike is the highest that has a one-cent spread for HPQ. Above that, it's all 5-cent spreads. So I traded at the money, unusually.

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