>>Now, I must ask you one more time, you have puts right? Come on fess up.
Okay, for all you doubting Toms out there, Jeff has April $45 calls, as do I (QQACD @ 1/4). I also have a long position in ASND shares, which I've disclosed previously (Dee Jay, ASND-Permabull, can confirm <g>). As an aside, I have a $45 target on my long shares, at which time I will either sell or write deep-in-the-money calls against them.
Jeff and I discussed the best way to play the earnings announcement, and agreed that, given current market sentiment, we could expect upward momentum regardless of the actual numbers. While short-term out-of-the-money calls are indeed usually a losing proposition, they can be a very high leverage play resulting in multi-hundred or multi-thousand percent gains. Definitely not an investment appropriate for the mortgage money.
I know that Jeff has already covered his initial investment and is now holding house money, though I did not. I'll have to wait 'til Monday to see if it was the right move.
Regards,
David |
