The Money Tree

Safely Generating Income in Retirement

MYGN – Update

Posted by mounddweller on August 22, 2010

All,

On Friday MYGN closed at $15.97.  Consequently my AUG $15 naked puts expired OTM.  The stock bottomed out around $14.50 back on July 30th and subsequently recovered to as high as $16.54 before falling back with the rest of the market on Thursday and Friday.  I’m going to wait and see how the market opens tomorrow before deciding when to implement my next trade on this position.  I would like to sell the SEP $15 naked puts but would like to get a bit more for them than the current $0.35 bid.  If MYGN looks like it might move higher I may consider selling the $15 strike further out in time.

Regards,

Troy

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