Talisman Energy Inc. (TLM)

[fLUK3]

Largest lot was 465 @ .30 ($13,9K cash outlay). Then there was a few >100 contract lots. Most of this action was on the ask which shows buying action. And since OI wasn't that high it shows most was BTO (Bought to Open) which shows people are bearish going into September expiration. As well call volume was up with a majority of that action being STO (Sold to Open). People are getting rather bearish on this one even with the word of possible stake.

This one is starting to have me wonder if a deal may not pan out. Theta decay has already put my 10s into a small profit area, and I will be watching the low from that most recent gap as maybe a time to get out with a wash to minimal profit and just play the pull back in the underlying itself.

If we do break that low I may flip over to the other side will either sell some calls (naked or covered depending on premium) or do a vertical credit (just in case a position is taken) just to have a piece of protection.