I have to admit, the move up in the markets after the FOMC policy statement has me puzzled. However, there are a couple of January Put writes that I like. Because I am strapped for time with the bell approaching, lets cut to the chase. I like Abbott Laboratories (ABT) again. ABT is at $52.95. The trade is to sell the January 47.50 for $0.90/contract. The $49.34 low from 12/12 will be the technical stop level.
Chubb Corp (CB) is a property and casualty insurer. The January 40s are bidding $0.90 to $1.05. The target price is $1.00 per contract. The technical stop is at the recent low of $45.55 on 12/12.