Q: Peter and Team,
I bought a 5% position in Stantec a couple months ago around $48 and sold a covered call on it with a strike of $50 for the next month. I got called away and proceded to sell a Put at $52 for the next month. Stantec then reported their incredible quarter and the stock is now $68.50 or so. With the big run up, does this stock still make sense to buy new or should we be waiting for it to come back down a bit?
I bought a 5% position in Stantec a couple months ago around $48 and sold a covered call on it with a strike of $50 for the next month. I got called away and proceded to sell a Put at $52 for the next month. Stantec then reported their incredible quarter and the stock is now $68.50 or so. With the big run up, does this stock still make sense to buy new or should we be waiting for it to come back down a bit?