OT: KMX

I came to the same conclusion that calls were expensive.

Conversely, selling $95 Jan 23 puts earned me a 16.3% (21.5% annualized) return on the cash backing the put. Or buy it for $82 if put to me.

I know I may end up not owning the stock if it takes off, but I think the 21.5% annualized return is fair trade off.

4 Likes