Closed C options Tuesday for 200%. I know the plan was to keep until earnings but it's 200%.
For those of you who got into C options Monday we did well. We then bought the 5 Jun Calls to take advantage of some time and volatility premium left on the option. We are currently down .04 and I should have known to try and get in lower in the day but it-is-what-it-is.
The markets have been experiencing some short coverign lately driving the market a little higher. Friday is options expiration Friday and it is possible that some short-covering may drive C higher.
I would recommend closing these out if you aren't playing on profits from Mondays trade at the purchase price, possiblly .01-.02 higher to cover commission. If you are trading on profits the push up towards earnings could drive some volatility our way and allow another double at .30. Achieving implicit value is a stretch at this point in time.
Happy Trading...
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