Research Pit

[Jagman]

nlightn...to be honest, it wasn't a "great play" for me, just an azz saver!!! LOL!! I bought the Jan 35 Call in 2005 when IGT was in the under $30 range believing it to be oversold based on possible new biz in states like PA, plus it is a good company anyway. My cost was about 90 cents and watched the option drop much lower as the time factor kicked in (who are those guys that say never average down!!). Luckily, IGT trended up to the earnings date a couple of days ago, then spiked at the good earnings.....hence my azz was saved!! I sold at the bid of $1.15 when I got home, as soon as I sold, of course it went higher, but by the end of the day I looked smart and not piggish!!!

Short term I bought some TSN Puts at $15 thiinking the increasing bird flu news and so-so earnings would drive it there by January.....TSN closed over $16 yesterday and the option expired worthless. My son was smarter (so far), he bought the TSN April Puts.....maybe he will do better....