Friday, February 15, 2008

Quiet options expiration, CMG note, and long TWM

CMG recovered from its 93 low from Thur aft hours. It was no lower than 95.60 in premarket and 95.55 at 10:05a so anyone long put options would had to have covered quickly to avoid losing the profit as the stock rose all day to recover back to 104.

The Dow was down 28 points, the other averages down 1/2%. About two minutes into the close, went long 800 shares of TWM at 82. We won't know how this trade does until Tue after the President's day holiday. Best to stay away from the computer until Monday, and then let's get back to work.

No comments: