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I bought shares for $7.67 and sold the weekly $8.00 call for 80 cents.
Then I bought the September $6 puts for 70 cents, and sold the weekly $6 puts for 35 cents.
Up, up, and away, 80 cents + 33 cents = $1.13 or $1130.00 in 4 days.
Downside I need $6.00 to be the bottom, and I can sell weekly calls going forward.
Last edited by howard555; 08-13-2012 at 02:03 PM..
I bought shares for $7.67 and sold the weekly $8.00 call for 80 cents.
Then I bought the September $6 puts for 70 cents, and sold the weekly $6 puts for 35 cents.
Up, up, and away, 80 cents + 33 cents = $1.13 or $1130.00 in 4 days.
Downside I need $6.00 to be the bottom, and I can sell weekly calls going forward.
i seriously doubt this turd can stay above $5 , let alone 6
was listening to a citi group talking head in june , put a target price of $ 17 on this lead baloon , was around $ 10 at the time , i want a job on wall st , you get paid to make thee most outlandish predictions , id be astounded if it ever got back above $ 8
Listening to analysts on tech or anything remotely related to an industry that has such abrupt changes by the quarter is just wrong.
Invest becuase you have done your own homework and actually think they were a company worth investing in (not necessarily making money with.) The money part comes later.
Remember these types of services and loyalty can be gained or deleting with a few clicks.
Tread lightly and stay on top of these. You can make money for sure, but know what you are getting into.
About the only good news is, they do have over $1 billion in cash, and they just earned 8 cents to the good.
So, it's not a money loser, like others.
The sell off may be overdone.
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