iBankCoin
Joined Jan 1, 1970
1,010 Blog Posts

Summary – Monday, 2008.III.24.

As I wrote last night, I had no good feel on which direction the market was heading…but the pre-market was decidedly bullish (on more [[BSC]] shenanigans), so I jumped in on the long side with several calls and 1 strangle.  Here be the details:

  • Calls in [[CMED]] – support @ $37 is holding.
    • I had half-a-mind to sell after their monster day (+9% on the heels of positive news), but decided to hold (with a trailing stop) as it looks to have room to run.
  • Off of yesterday’s idea list:  calls in [[LIFC]], [[SWN]].
    • Missed out on [[GME]] when I put in a limit order instead of market.
  • A strangle on [[CSUN]].
    • Low-risk; looking to take advantage of the usual volatility inherent in the name.
    • Betting on the long-side with 7.50 calls, with 5.00 puts providing protection.
  • And even lower risk (only 1%) position in [[MER]] Apr 30.0 puts.
    • You just never know…it’s got 25 days to kick the bucket and prove right all the speculators.

Didn’t sell anything; the account is still over 75% cash, so I can be plenty flexible come tomorrow…

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