Replies to post #2420 on Cleveland Cliffs Inc (CLF)

[petguz]

I bought the Jan 27 9.50 calls last week and I am already down. I hope I didn't make a mistake on that one.

[greasemonkeyshoes]

It is a speculative gamble for big gains........
I have Jan 1/20/17 call options(contract ratio: 0.75,1,2)
$11@26-28c(cost)
$12 @13-14c
$13 @7-8c

Since you have the $10c,it may not be a bad idea to add a few of the
$11c and $12c at these cheap premiums.

Why this is a speculative gamble?
The odds are against us.

Why do it?
If price rice break out again from the $10.90 quarterly highs again,I believe there is a chance,7 days before the 8-k announcement,above gamble could become very very interesting.
or
Risk adjusted roi can be huge: a calculated bet.

Happy Holidays everyone!