AI
Tuesday, December 09, 2003 5:24:41 PM
AZO bites the dust as more earnings come in lacking! We discussed PLAB but never picked it up, that is dying as well. Position cost $2.30 now worth $2.85 and that's not including tonight's report. We still have ADBE puts and we expect even more downside (not picked up any 40 calls yet, the downside in the market was huge today!)
Marketgems: a 90 STRANGLE is medium risk/medium reward.. I am thinking one of the sides will move a lot (like EASI) (editor's comment we were already short in AZO today, but covered)
AZO straddle (90) we thought we might pick up some December 90 calls if AZO stabilized but it didn't kept dropping (however still picked up some 90 calls for the straddle) but AZO earnings horrible and even though yesterday's 90 puts were up nicely they will be up more.
Marketgems: a 90 STRANGLE is medium risk/medium reward.. I am thinking one of the sides will move a lot (like EASI) (editor's comment we were already short in AZO today, but covered)
AZO straddle (90) we thought we might pick up some December 90 calls if AZO stabilized but it didn't kept dropping (however still picked up some 90 calls for the straddle) but AZO earnings horrible and even though yesterday's 90 puts were up nicely they will be up more.
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