Update: CVH is trading very thinly on the option side. One of the things that I should have considered befor picking this one up. And it is about time for me to head off to work. I will watch a bit longer, but biting this $0.35 bullet may be in order. Option study is being moved forward on the calendar. Maybe I'll be lucky and get a few blips to get back to even. But I doubt it.
12:07p Update: Excellent Results? Saved from my own non-attention. The option trade that I attempted to place on CVH never went through as the E-Trade account was not set up or approved for options. I have taken care of that factor now though. So the gate to danger has now been opened. But the timing of switch over was excellent. The stock price went down from that point until now. So a put would have been the correct move. If you look at the chart it confirms this factor. Off to work with a small profit again.
Determination of Exit Point for MSFT puts. MSFT was approaching support and I wanted to take some profits as MSFT puts can again be bought back. The exit point here was not determined by any scientific method. Just wanted to take some profits. I still have some puts and now I can buy calls without any fear.
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I'll take care of that later on today. Since I missed my option opportunity (fortunately) I decided to go back to what I do best. Bought 2,000 shares of LEXR at 12:00p at $3.74. I'll try to hold on as the 10 minute lights say I am fine. All other lights are gren also. I leave for my appointment in an 1-1/2 hours so I've got that long to watch this one. My target price is $3.93.
Now it looks like that MSFT is rallying. Market gurus are saying that the market will rally due to following reasons. 1. Oversold condition 2. End of Quarter Window Dressing 3. July Effect ( I think Independence Day Holiday effect) It has been rallying in the past and it would probably rally this year as well. With regard to MSFT , I will let it rally to 55 or 56 to buy another round of puts. Bear in mind that I previously read that By July 1st EU (European Union) authorities are going to decide on Microsoft antitrust allegations. What will I do now ? Wait and see. Definetely I will buy puts if MSFT rallies to 55. Please note that the support and resistance provided by Econsul is used by me only for knowing direction of the stock. The actual support and resistance vary but not much.