2 The Options Oracle Expiration Week Alert has just been delivered
Posted on June 17, 2008 by AJ Monte
Breaking news:
WASHINGTON (AP) - President Bush plans a renewed push to get Congress to end a long-standing ban on offshore oil and gas drilling.
If you have a position in OIH and you are a member of our Trade Advisory Service, you may want to attend to this position first. Instructions have just been delivered to your mailbox that include very specific trade instructions for this spread position. We are taking profits in four positions this week with our best trade being in OIH. (60.61% return in just 6 months)
Happy Trading,
AJ Monte
2 Responses to “The Options Oracle Expiration Week Alert has just been delivered”
I am confused on the instructions for TRA in the lates expiration week email.
You recomend buying back the june 40 calls - which I did and simultaneousl selling the july 50 puts. Does the remaining july 45 calls somehow protect the puts or are we selling naked puts.
I am also confused on why we are looking at the 200 day moving ave as an exit point rather than the newly establish support level.
We do not recommend that anyone sell a naked option. The puts we sold are cash secured meaning we have enough cash in our account to cover the purchase of the stock should the stock be “put” to us.
Also, the 200 day moving average for most stocks acts as a support level which is why we pay so much attention to it. If you look at the candle pattern for today’s trading day 6/25/08 you will see a nice spinning top which in many instances signals a pivot point is forming. We are still with this stock and will be keeping an eye on support.
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