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Strategies & Market Trends : Gersh's Option trades
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To: Mark Johnson who wrote (618)8/6/2007 3:59:35 PM
From: Mark Johnson  Read Replies (1) of 652
 
Dead cat bounce on CFC today.

Still one of the biggest mortgage lenders out there but I
don't think their problems are resolved but I would think things may begin to stabilize.

Shorting the August 32.5 calls at 20 cents and the 35 calls at 10 cents seems pretty good trade. Only 2 weeks left to expiration.

Also, shorting the September 7.5 puts from 30 to 40 cents seems ok. I am not a big fan for shorting puts. If CFC drops below $17 per share, cover the short, if not sooner.

Shorting the calls seems to be the best I think.
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