Looks like the conference was a NON-EVENT for the stock. Only down .08 from the previous close on Tuesday. Had a lot of movement, but it came back to where it started the day. Nine more days....then I don't care where it goes.
I guess they must have said someting good at the Conference. Good buying coming in today. That just makes my Bull Put spread look a little bit better.
Yes it is...and that is the only thing making the options worth anything for trading. I have been looking for HIGH IV stocks just for short term plays. I really do not care if the company is a good one that will be around forever or not. Just as long as it is around a couple weeks for the next expiration period. Once exp comes and goes, I start looking for another play. Just disregard the title of this thread. It looked like a Covered Call or calendar Spread would be good, and it was when this thread was started before the Nov. expiration. But for now I am only looking at this for Credit Spread deals, or possible selling some naked Jan 07 puts (if it drops back down in the 12-15 range).
Today it looks like the profit takers are have there way. Just broke thru the 38.2% retracement level of 15.69. I look for it to test the 50% retracement for the last run up. That should be around the 14.99 area. This has repeated the cycle 2 other times and looks like it will repeat again going to 50% to complete another cycle.