TSX:TECK.A - Post by User
Comment by
elliott39on Aug 03, 2009 9:05am
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Post# 16186411
RE: I am starting going short with TCK.B...
RE: I am starting going short with TCK.B...I too see a correction in Teck over the next few months. I'm not much on shorting but I did write 10 covered calls (Nov 32.s) and got around $2 per call. This way I'm not exposed to the dangers of a short position in a high beta stock but make a few bucks during a period that I think will result in a pullback. If I'm wrong I get the equivalent of $34 on the call and wait for the next buying opportunity. Won't make a pile of money but I sleep well.
Good luck to all.