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Strategies & Market Trends : Calls and Puts for Income

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To: Robohogs who wrote (5538)	10/10/2012 5:12:10 AM
From: dealmakr	1 Recommendation Read Replies (1) of 5891

Hi Jon, I have a few small positions on but am waiting to see the 3Q earnings reports before adding. Short WLT Dec & Jan 22.5 Puts Long a few ACI from 11 cost basis now probably about 9 and have been writing CC's also short some Oct 8 Puts that may be rolled out. One of the biggest problems with the sector is that most of the big players went on an takeover binge just before things went to hell. The levering up of the balance sheets was a poorly timed event that now has to be taken into account with the ability to cover those debt costs. Shows once again how many managements of companies wear rose colored glasses when it looks like the party will never end. My thoughts are that they were blindfolded. The street dumping on the sector was pretty relentless and bounces will occur with coal being looked at as a dead end industry. Going forward will have to get some clues from the 10Q's about demand and cash flow along with how the debt levels are. Good trading dealmakr

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