Reason I like this Trade: I saw someone buy 30,000 TK Jan13 35 Calls for $1.80, so I knew I had to jump on board for a LONG position. This is the largest open interest volume I have seen since Jan 2011. This is the kind of trades I wait all week for, then pounce. I will be looking to get out of this trade as the stock trades higher. Please feel free to email me with any questions at [email protected].
UPDATE 3.19.2012 With the stock rallying to $32, I took off 25% of my position off at $2.25, but these Calls are still worth $2.50. This was another HUGE winner, but I want to let my profits run.
UPDATE 3.22.2012 With the stock rallying even higher yesterday, I sold another 25% of my Calls out for $3.10. So, I have sold 50% of my position for a 40% profit, and I still have a 50% position and the Calls are currently worth $2.80
UPDATE 4.2.2012 With the stock rallying to $35, I sold another 25% of my position at $3.50. I am offering the final piece of my calls at $4.30. What a great trade and realizing that sometimes owning Calls does work out.
UPDATE 4.3.2012 I sold my remaining 25% at $4.30 for a nice profit. The average sale was $3.2875 for a 96.3% gain ($1.6125) on the position.
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