This is another quick turn around trade in JOY Global (JOYG). I opened this option trade by selling 5 put option contracts last week with an expiration date of Dec 2006. Since that time the price has gone up to $43.32 as of the closing of this trade.
I sold these options in Joy Global at $0.95 and closed it at $0.5 roughly 4 days later. Net gain after all commission charges is $199 or 1%.
Some times I wonder if I should have used a regular brokerage account instead of retirement account. My returns would have been much higher due to margin trading even after tax impacts. May be I should do that in my regular brokerage account. And no I am not putting trades in my regular brokerage account on this or any other blog.
I think JOYG is a bit too expensive right now. I will have to see if it makes sense for me to trade it again.