>>I will hold the puts for an extended period of time as long as I almost own them for free.<<<
Please explain "free". If you are talking very OTM puts I think odds are against you. That's why they are cheap. In addition, if you are talking "extended" period of time holdings it would seem to me that you would not be so much a fan of the "let's not talk about tomorrow- trade what you see" crowd.
Hi Gary...Something else you might consider is the "writing" of calls on stocks you own but are looking to sell. Occasionally you find some pretty nice premiums leading to a pretty good % return.
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