Discussion of short term trades in options. Options can be calls, puts or spreads & are usually held 1 to 30 days. Close positions when they turn profitable. Trades are identified using technical analysis to determine entry points, some fundamental analysis and current news. Proceeds discussed are gross proceeds. Proceeds = gain per share x 100 shares x # of contracts. There may not be a trade every day, the setup has to there or it is better to wait for another day.
Monday, November 16, 2009
JCP
JCP (31.21) J C Penney, I like the 12/31 call at 1.35 or less. reported disappointing 3rd qtr results on Friday so should drop at open. Bull Continuation Wedge, stochastics cross, macd rising, below 50 day ma and doji candle. target = 38
I have been trading options since 1982. Besides having an MBA in finance, BS in marketing/economics, I have a career background in banking and real estate. I have well over 30 years' worth of experience in evaluating investments. Visit my website, www.sweetdreamstradingcompany.com for a free trial
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