I think your August target is a bit hasty...the September's have a nice month of safety built into them that the Augusts don't...buying that far OTM money with less than a month to expiration is not a great idea honestly. Good luck though.
Safe bet. Round number. Hasn't closed below it. Had its move. In the money. Ax is flush with inventory to peddle back. Cleaned out long stops and offered cheese to short mice. Whether he has "enuff" remains to be seen. Hence calls a few months out. Pay up.
Not trying to flame, but for the last 3 years unless you love buying/selling within a range... what was the reason for owning/selling the stock? If the base gives out, this thing could tumble very far. Of course, wait for the bounce before shorting unless you are very short term, but there is money to be made yet shorting this stock...
Stock is tanking and will go back to book value. Here is excert from today's newswire./ AP Ahead of the Bell: Countrywide Financial Wednesday July 25, 8:43 am ET Friedman Billings Ramsey Analyst Downgrades Countrywide Financial Stock Following 2nd Quarter Friedman Billings Ramsey analyst Paul J. Miller Jr. downgraded Countrywide stock to "Underperform" from "Market Perform" and cut his price target to $25, which is the net value of Countrywide's assets.
l CFC HF 2007/08/18 call on COUNTRYWIDE FINANCIAL CP at $30.00 83 $1.10 $1.35 $11,205.00 22.73% $2,075.00 Give it one more day to go deeper in the money. Have to buy with blood in the water. The bottom was in today.
No, my worst call on CFC was letting go of my short at $38. I've been in and out of it for about 20 round trip trades since. Played options both ways on this pig. That one blew, others have paid off. Last in and out trade was 2 weeks ago form $6-6.60. Haven't touched it since. Once she goes into a fresh range in 4's, I'll consider it. I prefer WM though as a trade thsese days.