Even though I’ve been writing about options for over two years now, I continue to remind myself that relative to the amount of time options have existed -- the use of options is said to date as far back as 332 B.C., but the modern origin is the creation of the Chicago Board of Exchange (CBOE) and the Options Clearing Corporation (OCC) in 1973 -- I’m a newbie. I know enough to know how much I don’t know.
So, today, I’m getting out of my comfort zone and proposing that owners of Papa John’s International (PZZA) stock consider a Long Strangle, something I’ve never written about before, based on Wednesday’s unusual options activity.
