Writing CENX January Puts
November 18th, 2009
I sold to open some CENX (Century Aluminum Co.) January $7.50 puts just before close today. CENX is back above the 50 day SMA and the moving averages on the weekly chart have lined up nicely as well.
I made an adjustment to CENX a few days ago in my taxable account to roll forward and down to December $7.50 puts. This new trade was in my IRA. I choose January because the premium was double December premium (albeit small).
I’m choosing to be more conservative and sell puts further OTM and farther out in expiration as the market seems to be grinding sideways in the near term.
CENX Hourly
CENX Weekly