Hi All,
I wanted to share a recent play (today) I made, get some feedback. I got in on UNFY at a price point between 12 3/4 and 12 7/8. Had 3 partial fills in those ranges throughout the day to get all 1000 shares. So, for argument's sake, lets say:
7/19/99 bought 1000 UNFY @ 12 7/8
Price currently 13
the Aug. 12.5 could most likely be sold at 1 5/8. Decent downside protection to almost 11, resistance should keep it above that. Considering the RSI is low, and the lower BB is following the stock down, not to mention the resistance, it looks like a climb back above 14. My plan is let it come up above 14, close to 15, and write an ATM call around 15, 10 contracts. I'd like to get 1 1/2 for them iff possible, and buy the 12.50 or 10 strike puts. I'd like to only go 2 months out if possible. Let me know if you have any suggestions, ideas, etc. Just wanted to share my trades, hopefully it will help someone.
BTW, looks like NOVL is a runaway. My Aug 25 calls are sure to get called now, any my Aug 25 puts may end up being profitable on a couple more days of pullbacks. Any thoughts on it's new trading range. I am considering covering my Aug, 25 calls (Nut of 21) ie rolling up. I couldn't believe it is maintaining this trading range, but it may not pull back far enough for me. Anyone making a play on NOVL now? If so, share your thoughts..
Ryan |
