...and talk about things like my right to be a Fair Weather Sister rather than my family crisis.
I got into a brand new trade today. I was totally going to wait for either BAC or BCS to hit infomercial levels, but then I started looking at some commodities and CENX tempted me to jump into the pool - mainly because I think oil's going to be able to stay above $70. CENX has got a beta of 3.7, so let's see if we've got any trading chemistry together. I got in at $10.25 due to some options analysis I was doing. Options are due to expire on 21 August 2010 and I think with a high beta like 3.7, we could be headed towards some price volatility.
We've got some relatively strong call interest from $10-$12 and there's some call interest at $13 as well. I'm looking to get out before $12, which would put me in line for more than a +10% gain between now and 21 August 2010. I will move my stop right before $12.
This is what the options chains look like on my E*Trade platform:
I'm putting a time limit on this trade - sell before 21 August 2010. Hopefully, I'll be able to be chaste on this trade and not let my profits all go to waste.
My BCS trade was so beautiful and I let the profits retrace by half... not the way to trade!
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