Trade of the Day (RIMM) 5.2.2012

Break-even:  I breakeven on this trade if RIMM closes at $16.15 by January 18, 2013.

Unprofitable: I lose money on this trade if RIMM closes under $16.15 by January 18, 2013.  The most I can lose on this trade is the Price of the Spread can be worth $2.00 minus the Price I bought it for $.15 or a total of $215.  In this trade, I am playing for a takeover and as long as RIMM stays above $9 I will only lose the $.15 that I paid for the spread.

UPDATE 5.3.2012  Thankfully I did not get LONG this stock, because it is getting punished again today to $12.05 and hitting another 52 week low.  This spread is down about $.15 and is worth even money.  I will leave it on, because it is a long-term position not a trade.

UPDATE 5.4.2012 This stock isnt moving in the right direction, but I will continue to keep it on.

UPDATE 5.7.2012  This stock isnt moving which makes me more nervous by the day, but I think RIMM can hold $9, so I will leave this trade on.  

UPDATE 5.8.2012  This spread is not moving as I said this is a POSITION not a trade.  

UPDATE 5.10.2012  This Spread will be left on until further notice and does not need a day to day update.

UPDATE 5.22.2012  This Spread is worth $.17 debit, so I am down a little bit in this trade, but I will leave it on for
a potential buyer of RIMM Stock.

UPDATE 6.4.2012  This Spread is worth a $.50 debit and I am looking to take it off any on any rally. 

Read more about spread by www.keeneonthemarket.com