scott answers a viewer question about how to get some money back from a losing FCX position.heres the web extraweb extra, maybe this viewer saw the clip with mike khouw recommending FCX in early may, heres that clip that clip . i like scotts trade idea..i love those ratio spreads, especially if you can get them for free, this one costs just 10cents. as usual, a bit overdramatic about what happens if the stock rebounds and is above the higher strike at opex...technically true but all that he says is IF YOU DO NOTHING. you can just close the ratio spread for a profit on opex friday or you can do nothing and let broker call away your shares like he says. just be aware that the ratio will not see its max profit till the day prior or day of opex so you will have to wait that long to see the gain.
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