Trading Opportunity in One of the Most Beaten Down Sectors of the Global Market
Sell a Put against Global X MSCI Greece Fund (GREK)
Greek stocks are still extremely cheap. Greece's benchmark Athens Stock Exchange General Index trades with a price-to-book (P/B) ratio of 0.65 vs 20 year average of 1.82.
Virtually no investors are interested in Greek Stocks at this time given the brutal bear market.
However, we have a clearly defined uptrend since mid 2016 and a successful test of the 200 day moving average.
Today is a good time to sell the March 16th 2018 $9 strike Put option for $1.05 or better. This presents a nice 46% annualized return.
To protect against the downside I would recommend closing the position by buying back the put if GREK closes below the 200 day moving average currently around $9.38.
Thank you for your reading.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.
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