Aussie-scalper

set up BUY if 3.00 good price rating 5.50 GS plus Sept dividend

Long
Aussie-scalper Mis à jour   
ASX:OSH   None

OSH - seems to be well placed for accumulation; I'm just looking for a better entry price...the energy sector chart indicates some scope for further C leg downside correction. So waiting for OSH to test recent low. I figure the following entry technique:
1. in about 1-2 weeks if corrects lower to about 3.00 sell a bull credit/put spread Aug ( I'm looking at 3000 shares worth for about $1100 credit).
2. collect credit premium until Aug 20th expiry- this should get another +10c premium for a discount on buying stock
3. buy actual stock after expires then immediately sell a call above at target price of +50c ; if expires worthless, keep rolling out months until call exercised.
4. possible to collect Sept interim dividend if offered of about 7 c.
Goldman Sachs have a 12 month rating ( from March) of 5.50 target ( information from Commsec).
Transaction en cours:
AS went as expected,
I sold a Bull put spread today for a $1000 credit
underlying price 2.95
sell strike 2.84 / buy strike 2.74
max credit with 300 options + $1071 ( not inc brk)
max risk at expiry date 20 Aug is $1989 but would pull the plug if -$500 loss at within 2 weeks of expiry, or take roll down / out depending on loss.

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