My old put on ABBV expired out of the money and I am rolling forward.

music selection:  “All The Kings Horses” — The Firm

AbbVie is a pharmaceutical powerhouse.  I consider it a buy up to 58.  Fortune smiles and the 55 strike put is worth writing.  On Monday, I sold ABBV160527P00055000 for 75 cents a share.  The trade will be in force 40 days and yields 12.44% annualized.  In addition, the trade enjoys 9.7% downside protection.

I have a good feeling about my chances with this one, especially with high downside protection.  Could become a long term target for writing puts so long as the price doesn’t run away from me.

Devour your prey raptors!

Write Put AbbVie (ABBV)

Never miss another opportunity to devour prey!

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