A number of new (and old) stock picking services are brought to our attention most every week. We coined the term “wreck-o-mendations” because of the severe portfolio damage they can do.
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In any event, we are following a number of put selling trade recommendations with Dec 2011 expirations started last week. EVERY one is already in-the-money and we aren’t even in December yet!
As a reminder, selling naked puts is effectively being long the market and therefore comes with substantial risk especially in a down market that many believe has crash potential.