I know you are the options guru around here.
Thought I would share an interesting strategy that has been profitable BUT!
Purchased OXRET July 190 calls for 130 (owes me $3.20)
Of course, January saw a scary drop in copper price and OXR plummetted along with it.
Still, over the last five months, I have managed to write some calls against the calls that I purchased, and have come up with a 26% profit.
The strategy worked for me in the face of some VERY scary times. I am wondering if you think this is beginners luck or a valid strategy?
Hopefully I will be exercised on the May 325 calls this Thursday and close the OXRET to deliver the stock.
Your thoughts on this strategy?