Put Options on MCY on 2/7/2018

Mercury General Corporation (MCY) engages in writing personal automobile insurance in the United States.

The company also writes homeowners, commercial automobile, commercial property, mechanical breakdown, and umbrella insurance.

Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowner's insurance products cover dwelling, liability, personal property, fire, and other hazards.

The company sells its policies through a network of independent agents, 100% owned insurance agents, and direct channels in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. 

Shares have formed a bearish "flag" and lower share prices are expected for this stock.

We will be trading March 2018 Put options

52-Weeks Trading Range: $41.40 - $63.23

Last Trade: $42.60

Trade Buy 1 March $45.00 Put at $3.25 For a net debit of $3.25 Profit/Loss Analysis Breakeven at $41.75 Maximum profit is unbounded Maximum loss is ($325.00) at strike of $45.00 Closing Summary Sold 1 March $45.00 Put at $0.00

Position closed on 3/16/2018 at price of $0.00 with a -100.00% loss in 37 days.

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