Sold open 400 July strike 30 calls at .45/contract. The selling is insane on this sector and I would like to maximize by taking advantage of the ride up. TOL is a likely merger or buying acquisition target.
Originally Posted by Jack Haddad, 5/26/06 9:43AM Based on the current technicals, the 6-month chart is showing a solid support of 5.85, though the short and intermediate terms are quite bullish. On May 16, the gap up from 10.93 to 11.70 is very bullish. If the stock close above 12.50, then it stand s a good chance in challenging the 13.75 resistance. Purchased shares at 11.37, and sold open the June strike 10 calls at 1.80/contract. ----------------------------------------------------------------------------------- Covered 100 June 10.00 calls at .10 My strategy now is to scalp as much as I can to bring my cost either at or above my purchase.
This is a link to an article I published: 1 of 3 Educational articles on the subject of Technical analysis of stock trading patterns. http://avcg.net/EducationalArticles/newsandarticles_article.asp?DID=7
Hello Doc, I am enjoying reading your journal. It would help if you posted the stocks symbol each time you posted a change in a position. It would just make it easier to follow along with you. Thanks for your effort. I really appreciate you taking the time to post your plays. Best regards, Trapper Originally Posted by Jack Haddad, 5/26/06 9:43AM Based on the current technicals, the 6-month chart is showing a solid support of 5.85, though the short and intermediate terms are quite bullish. On May 16, the gap up from 10.93 to 11.70 is very bullish. If the stock close above 12.50, then it stand s a good chance in challenging the 13.75 resistance. Purchased shares at 11.37, and sold open the June strike 10 calls at 1.80/contract. ----------------------------------------------------------------------------------- Covered 100 June 10.00 calls at .10 My strategy now is to scalp as much as I can to bring my cost either at or above my purchase. -------------------------------------------------------------------------------- Wrote 100 July 7.50 calls for .90/contract. I'll take what I can get. This is not looking good.