C - I picked up some Oct 25 Calls late in the day. Check out the daily close above the highs 4 months ago...impressive.
SOV - A partial re-gift today. After re-editting last night's post on the bull spread this morning, I pulled up the intraday chart and saw that SOV was finding support at the $4.00 area again. Yesterday's set-up was better with the strong market. Today, I had to wait for confirmation and didn't completely load up due to the market weakness. I picked up a few shares @ 4.24 and took partial profits @ 4.90. For the remainder, I sold the shares and established an equal position in the Oct 2.5 Calls to limit my risk in case the stock craters but still keep my upside open.
FNM - I added FNM Oct 2.5 Calls to the shares I picked up last week. FNM traded in a very narrow range today and could be coiling for a move higher pending rescue plan approval. Let's milk this trade, D!
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11 comments:
OE, milking it....wait for it....wait for it (gov't owns, what,75% of FNM?)-wait for it....cheering on C & SOV for you, nice calls-I'm getting lucky with WB this morning-rolled out of half (200).
Thanks! Took a little more SOV off the table. I always try to take some profits in a weak market in case it drags everything down. Nice work with WB...100%+ gain on those options?! Hope so!
OE, yes got out of those @.70, almost a triple....house money now on the rest. Just bought a few (no really, just a few) RIMM OCT65C, for fun. Keep up the good trades!
OE, just bought GG Oct 32.5's for day trade @ $1.05...big bounce coming in gold shares?
Almost a triple?! Sweet! Man, wish we were short some Ags yesterday. I picked up some MOS and CF. They're oversold for now and it's a good low-risk entry at this point. Look at CF, off 50% in 2 weeks, unbelievable. MOS is conducting their CC and people will probably realize it is not as bad as the stock indicates. Regardless, good risk/reward right now.
OE, thx for the heads up on MOS cc
I'll keep an eye on GG. It's getting hammered today. BTW, MON may be the better way to trade Ags on a rebound. They just confirmed today that estimates were going up. I've got tight stops on MOS and CF.
OE, got BLOWN out of GG. Bought some q's puts to hedge in case all HELL breaks loose-looking at MON...thx
Tell me about it. Got stopped out of MOS and CF. I should have been looking to pick up puts instead of trying to catch falling knives. Politicians f^*$-up as usual. The longer this has taken, the more the positive psychological benefits of a bailout fade away. Index puts may be the way to go.
WB acting well....but bought again QQQ puts...I have a feeling we may not get a bounce tomorrow as we did Tuesday..I should be sitting on my hands. No amount of experience will allow you to land a plane without a wing!
OE, added a bit more to my AMR puts. Airlines having a tough time even with oil DOWN...
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