Green Mountain Showing More Support (GMCR)

You may have read our last post on GMCR where we were trading options in the high 20's.  Since then GMCR has touched backed to 35 and has since pulled backto the 31 range showing strong support on a day like today where the DOW is down 100 points.  GMCR gapped down and dropped only to show support quickly and pull back up.

GMCR recenlty has been upgraded with a target price of $40 and S&P raised it to neutral.  The news that dropped it hard has subsided and shouldn't have any impact ont the business.

We are layering into March 2011 $35 calls 5 at a time.  They touched 2.75 this morning and the interest in actually purchasing the options is low so you have to have your plan in place with buying and selling prices in place.

Happy Trading...