Tuesday, November 5, 2013

$T and $SBUX

Yesterdays post involving $LNKD is not panning out quite yet. The momentum seems to be up right now but I still am watching for a retest of the 213 dip. I decided to let this trade simmer on the back burner and focus on two other names; $T and $SBUX

$T
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Since earnings, the name has had a good run up. Broke above the 36 area and even started to consolidate. It was a little too choppy for me to be a setup for higher prices but I watched for a break back below 36 for a short attempt. I got in today in a few 36.5 strike puts for .58c.  We got the break below 36 as I am writing this, with a little bounce. But so far I am up 20%. If 36 doesn't get reclaimed by 3pm, I think we see people dump into the close.  That earnings gap is just calling its name and I will use that as a target.


$SBUX
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This is a fun one because it just doesn't seem to go down. And as it claims new all time highs today, I took on a few calls to take advantage of last minute hop-ons if it breaks into those highs.  And as I write, the runners are running. I am holding 83 strike call weeklies bought at .13c.  At .26c right now, I am up 100%


I'll be watching both positions into the close.  As well as $LNKD, which I think will give back most of today and head lower the rest of the week.

Happy Trading


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