I noticed some option activity in TAHO… So I decide to emulate it. Reference point: As I write this TAHO is now trading at $5.00 USD, 10:15 AM MST
I saw 100 Put Options @$5 were sold short in the April Contract (which has 46 days to expiration) for $.52 generating $5,200. This is great if TAHO stays above $5USD.
So I went out to the January 2019 Contract @$5 (319 days to expiration) went short 20 Puts which sold for $1.10 and generated $2,100. I hope TAHO stock will continue to recover, if not my positional responsibility is to buy 2000 shares of TAHO paying $5.00/share = $10,000.
My breakeven, with TAHO falling in price, is $3.90. I’m not able to predict the future, but in the mean time, I’ll hold onto the $2,100 credit, thank you very much.
Manipulation ends, sooner or later.
cghonda1