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TRADE BULLETIN: Gutter Ball! BMY Needs a New Roll (BMY)
Posted on February 13, 2020
We’ve got a single trade to tend to before the week goes boingo, friends.
It was launched back on November 4th, and we’ve since rolled it out twice.
All the details can be found here.
Today, we’re in a position where tomorrow’s expiry might leave us with a loss – if we don’t act now.
Debonair
Recall –
Our current position is short the BMY February 14th 59 CALL and long the BMY February 14th 65 CALL.
The 59 sells for $8.95 while the 65 trades for $2.01.
Buy back the former and sell off the latter and you incur a debit of $6.94. Then sell the BMY February 21st 60 CALL for $6.95.
That will give us another week (and another penny on the credit – for a total of $0.12), and it should finally wrestle this critter back to earth.
In the ring or out.
The G-d of Israel is with us.
Eschatologically yours,
Alan B. Harvard
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