The fall in today's market created a few opportunities but as I am bearish on the overall economy, I would caution everyone not to go into risky trades. I believe that some value stocks are trading at an attractive level so they should be fine for some naked put.
So what's my today's selection?
#GM ( #GeneralMotors ). I don't need to introduce the company but it's certainly worth recognising that the stock is down about 30% from the levels it was trading at in 2021. The price dropped today $1.76 triggering my alert for a naked put at the $37 strike. If the price drops below my strike then it would basically be back around the level that it traded at between 2014 and 2020 so I consider this trade fairly safe.
The only key risk is the upcoming earnings but it's still a month away so we should be fine.