I bought the $125 Suncor July Puts for $3.50 before the stock did a 2 for 1 split ($62.50 for $1.75 post split).
The stock has been on a steady decline, and the (post split) July $62.50 Puts are trading at $2.80
I decided to pull the trigger and close out the position this morning with a nice profit.
I am looking at the IMAX July $7.50 Calls which are currently sitting at 40 cents.
I will be monitoring this stock on Tuesday and opening a position
Opened a position today on the SU July $125 PUTS for $3.50
I think I have bought them far enough out to give SU a chance to come down a bit.
Suncor has climbed from $93 to $145 over the past 3 months. I’m going to start looking at buying July Puts. Feel free to share any thoughts or input with regards to this stock.
Merck looks like they are ready for a comeback. The June and July calls are cheap and from the looks of the chart, the stock looks like it could make a move upwards.
I’m going to open a position tomorrow morning for some June calls at $42.50 and perhaps some $45 Calls for July.
Well, I got sick and tired of paying $30 per trade with TD Waterhouse…and decided to sign up for a trading account with “Think or Swim” (www.thinkorswim.ca or www.thinkorswim.com if you are in the U.S.).
They offer $10 trades, a whizzy active trader software platform and you can get a live feed from CNBC that streams in a little window. I was going to make some trades today, but I kept getting distracted when Maria Bartiromo came on and missed some good buying opportunities.
Well, I had doubled my money by the time Friday rolled around on the $30 May YHOO calls…..but I’m not the kind of guy to take a profit and look for another opportunity. Instead, I held on thinking I could get a “tripple” or perhaps a “quad”.
The deal is off with Microsoft, and I’m sure my options will be worth 5 cents by the time the market opens.
I’ll add this trade to my “2008 Capital Loss” file for next years tax return.
Today I bought the YHOO $30 May Call @ .50 cents. Let’s see what happens……
Tomorrow, I will be buying the Yahoo (YHOO) October $32.50 Calls.
There has been some heavy activity on those options….so somebody out there must know something that I don’t.
Next week is an important one for “Big Pharma”. Paul has selected his picks for the week: