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Message: MCP

MCP & the rees look rather sick right now (along with a lot of other stuff), but they do look like they are struggling to form a short term bottom. So I took a punt on MCP - I sold 57.5 put options that expire on Friday. For that, I got 1.84.

This is just a 4 day trade. I'm hoping MCP has a slight bounce which gets it over the 57.5 strike price - all I want is to keep the premium. If it doesn't, and looks like it will get assigned, I'll short it before the close on Friday so that I won't have any position on Monday. My break even on this trade is 55.66, so any close on Friday above that would put me in the black.

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