Opinions
Richard Croft
SPDR S&P 500 ETF
SPY-N
PAST TOP PICK
Oct 10, 2013
Stock price when the opinion was issued
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He did a put spread on May 2, the 500-520 end of July put spread. He wasn't concerned about NVDA or tech, but to the market's reaction broadly to Nividia's earnings. Rally broadening in the S&P had not happened. You're limiting your downside with a spread. He bought back the 500 put, which leads him long only the 599 outs.
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(A Top Pick Oct 29/12. Up 31.08%.) Bought a March 1 41 Straddle at $12.68 with a Call at $6 and a Put at $6.68.