AI
Wednesday, March 10, 2004 4:27:46 PM
MATK!! our big put play almost held a short (which we called) but didn't at the last minute! We opted not to buy the calls as they seemed a little pricey. We never got the earnings run so we opted for puts.
2:27 p.m update on MATK (official play) (this was at 12:27 and we never picked up the calls at all)
MATK March 65 puts $1.80 to hold overnight up already $0.40 We do have some move up but its not looking very good for MATK. With the March 65 puts the March 70 calls which were under a buck and will probably once again be trading around $1.00 to $1.05 we can hold through earnings. No hurry wait for the bid to be accepted I do expect more downside here on MATK so the calls will be cheaper.
MATK will VERY LIKELY BE a gap play tomorrow so its really important you keep that in mind. ALL EARNINGS PLAYS NOW FOR THE MOST PART ARE GAP DOWNS ' CRAPS, so MATK could go in that direction as well.
CONSERVATIVE PLAYERS: might look to short MATK below 66.50 for a retest of 65.50 and also look to short tomorrow morning. You can make good money without options lately, the stocks are hugely shortable after the report.
second update MATK 1:45 p.m.
SHORT... to hold through earnings and this time no calls -
AT THIS POINT THERE IS NO REASON TO BUY any CALL OPTIONS. NOT EVEN MATK, I did pick up some intraday on ORCL but will lock in of course. Any health care shorts or NTLI swing shorts continue to hold! The earnings plays will possibly be stronger shorts then the typical SNDK/QLGC type of shorts.
2:27 p.m update on MATK (official play) (this was at 12:27 and we never picked up the calls at all)
MATK March 65 puts $1.80 to hold overnight up already $0.40 We do have some move up but its not looking very good for MATK. With the March 65 puts the March 70 calls which were under a buck and will probably once again be trading around $1.00 to $1.05 we can hold through earnings. No hurry wait for the bid to be accepted I do expect more downside here on MATK so the calls will be cheaper.
MATK will VERY LIKELY BE a gap play tomorrow so its really important you keep that in mind. ALL EARNINGS PLAYS NOW FOR THE MOST PART ARE GAP DOWNS ' CRAPS, so MATK could go in that direction as well.
CONSERVATIVE PLAYERS: might look to short MATK below 66.50 for a retest of 65.50 and also look to short tomorrow morning. You can make good money without options lately, the stocks are hugely shortable after the report.
second update MATK 1:45 p.m.
SHORT... to hold through earnings and this time no calls -
AT THIS POINT THERE IS NO REASON TO BUY any CALL OPTIONS. NOT EVEN MATK, I did pick up some intraday on ORCL but will lock in of course. Any health care shorts or NTLI swing shorts continue to hold! The earnings plays will possibly be stronger shorts then the typical SNDK/QLGC type of shorts.
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