Replies to post #17663 on Cycle Trading

[JLS]

Re. VRX,

I posted here that I did a Buy/Write on VRX on 03/16. I think that was a few days before VRX was pumped on Fast Money. I had already checked its earnings history, its refinancing efforts, and recent options history and some of the financial/politics it was embroiled in, and decided it had been smacked hard enough and decided that I wanted to own it going into earnings. So I bought the stock and sold Calls that would expire prior to earnings.

Now I see my homework and strategy is paying off. I won't do anything with it now until I see how it reacts to the tiny resistance at $12 and then at SMA(100) which is currently at $12.73. What I would do (unless something I can't predict changes my mind) is write more Calls against it sometime and possibly open an additional position in a different account.