CHICAGO, Sept. 29, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "RobMarketsBlind".
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Today's Rob
My action for today: Write puts on Walgreen Co. (NYSE: WAG) Jan 25's. Today is a good day to write puts on WAG. Although it reported excellent earnings, it announced the dropping of a major account.
Multiple analyst have downgraded WAG and the stock has dropped accordingly. In the last five sessions it has dropped in share price from the 37's down to the 33's. However, the Jan 21 WAG 25's have a .50 premium per contract.
WAG will need to drop another 30% plus to hit 25. WAG hasn't been down to 25 in over two years. A good beg to get and low risk in my estimation.
Last time we wrote, it was on a day that AT&T (NYSE: T) had a big drop and it has worked out excellent so far. Here is what I wrote at that time..."With the announement that the government is going to sue to block the ATT and T-Mobile merger, the telecom sector has dropped down today.
"This provides an excellent opportunity to either buy AT&T at a price providing 6% dividend yield for a historically high quanlity company and/or write T puts as the premiums have gone up today with the stock down to support levels. For example, I wrote puts on the T 27 Oct's and received .82 per contract this morning."
The most recent picks by «RobMarketsBlind» are:
A buy rating on Apple, Inc. (Nasdaq: AAPL),
a sell rating on Micron Technology (Nasdaq: MU) and
a sell rating on China Life Insurance (NYSE: LFC).
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