Joined the ADT short party with 8 x 40 Jan 14 puts.
Go shorties
Go shorties
RM's occasional market calls...
- Thread starter Rearden Metal
- Start date
Quote from Trader.Fighter:
Joined the ADT short party with 8 x 40 Jan 14 puts.
Go shorties
Very cool- I have some of those too.
I should mention one thing though: If you're going out to Jan '14, the 45 puts at $5.65 and the 42 puts at $4.00 now look a bit better to me than those 40's at $3.10. Yours do better on drastic down moves, while mine (the higher strike/less decay) do better on more subdued moves. I suppose it's partly a matter of taste in the end.
But my biggest ADT positions are the ITM <b>Aug.</b> puts and also short <b>Aug.</b> ITM calls, with that July 31st earnings report as my anticipated catalyst.
I hear you, you betting on this July earnings report for the big breakdown.
Reinforced the position by adding some more 40 Jan 14 Puts to the short build.
My reasons for shorting ADT are purely technical, my fundamental reason would be RM.
Expecting a drop below 38 as a minimum.
Best wishes to everyone, especially to the kind OP who time and time again shares his good calls.
Will revisit after the earnings report.
My reasons for shorting ADT are purely technical, my fundamental reason would be RM.
Expecting a drop below 38 as a minimum.
Best wishes to everyone, especially to the kind OP who time and time again shares his good calls.
Will revisit after the earnings report.
Technicals you say ?
I got an upslanted bullish inverse head and shoulders in the making, you and the OP are going to need a lot of luck in that earnings report, because technically, this is a bullish train.
The beauty of technical analysis, simultaneous bears and bulls at any given time, otherwise price would travel vertically.
Technically, until there is a close above the may highs, it remains a downtrend, so I am basically fading a retracement inside a downtrend.
Looks good to me for new lows to come, in time of course.
The rumor of of T buying something turned out to be true, although it was LEAP instead.
The option action in LEAP on the last minutes on Friday was interesting to say the least.
Criminal is more like it.
Someone better go to jail for that.
BTW- the guy who swept the book at 3:42pm turned a $6000 "bet" into roughly $600,000 (with LEAP @ 17).