SBUX - Just bought 100 contracts June 30 Calls at $0.50

Quote from jsv416:

Please expand on your reason for entering the trade.
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  • Starbucks always bounces back from its 52 week low.
  • Starbucks are as busy as ever with new ones opening up all over the place.
 
You paid 500-basis over stat vols, but this decline is failing. You'll make a quarter if we see $30 this week.

Don't trade options based upon anecdotes like "busy as ever".
 
Quote from atticus:

You paid 500-basis over stat vols, but this decline is failing. You'll make a quarter if we see $30 this week.
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I was thinking $35.00 by June expiry, which will make those options worth about $5.00.
 
Quote from forex-forex:

I was thinking $35.00 by June expiry, which will make those options worth about $5.00.
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lol, you're nuts. No way we see $35 on SBUX.
 
This was a great trade.... for the seller of those calls :)

EDIT: They have not budged on the down move so back the truck up and load it up baby with every $8.00 Mocha Frappa Crappa Caffa-chino...
 
Quote from atticus:

lol, you're nuts. No way we see $35 on SBUX.
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I don't have time to debate this. I'm off to Starbucks now for my "tall dark" coffee and a chocolate chip cookie.
 
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