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NorMan
I am new here and did a mistake. I sold the OMC Put .
This seems to me that this recent alert was advice for existing put owners.
Can I buy this option to close out my trade, or will it just make things worse? Thanks for all advice.
NorMan,
I do not usually recommend selling puts but seeing that OMC stock has been rising, the value of your put should be lower than your sale price. This is exactly how selling an option should work so if it is bought back to close out the trade I expect you will have a profit.
Best,
Linda
Stock Talk
NorMan
I am new here and did a mistake. I sold the OMC Put .
This seems to me that this recent alert was advice for existing put owners.
Can I buy this option to close out my trade, or will it just make things worse? Thanks for all advice.
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Linda McDonough
NorMan,
I do not usually recommend selling puts but seeing that OMC stock has been rising, the value of your put should be lower than your sale price. This is exactly how selling an option should work so if it is bought back to close out the trade I expect you will have a profit.
Best,
Linda
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