XOM strategy ??
Hi all, I'm new here. My 1st post.
Bought 400 shares XOM @ 70 in '09. now its 59. Wanna take advantage of 30 day rule. I think there may be a down turn, but rally b4 yearend is possible. So I'm thinkin:
-Sell now, take loss ( I have gains, so loss good for tax reasons ).
-Buy Oct. call options @ 60 To capture gains if there is rally.
OK, now should I buy put options so I can profit from downturn if one happens. if so which one, oct, nov., dec., ?? 52.5? 55? ? 57.5?
How do I do this type of manuever? What do you guys think.
I have similiar positions with
FTR bought 1000 shares at 8.8 last year, now its 7.76 ???
GME 200 shares bought last year at 28.42, now its 18.
All thoughts & suggestions appreciated.
Regards,
Ed
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