Ford's 16 Mar 2011 Calls were undervalued slightly this morning going for a low of 1.27. We were picking them up 1t 1.31 to close at 1.49 this afternoon on 360 transactions and F closing at 16.10 aftermarket.
F was expected to pullback based on its valution compared to GM at their IPO, 18 was the resistance we were looking for to start buying PUTS but it never hit that before the pullback, today provide a great buying opportunity. Still room for profit even at 1.50 given the stock only needs to be at 17.50 to be break even and we still have time and volitility on our side to generate some quick returns... Looking to dump at 2-2.10...
Happy trading...
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