If you mean SNDK stopped out but it was shorted. I have nothing against SNDK already got it down from 80 and closed the 55 puts yesterday as posted, and I do think it might conceivably move higher, but can't resist that urge to short a stock that has done so extraordinary well on the downside. We even had SNDK as a LONG on the 6th. Its relegated to a daytrade in the direction of the prevailing trend, which for SNDK has been shortable on rallies even on up market days.
When you are an earnings trader and have had consistency in stocks that have either gapped 'n snapped (upside continues) or gapped 'n crapped (downside continues) I don't tend to blow horns until the report, but if the stock is down quite a bit following the report, the techo-fundamental side of me tends to be bias to downside. A good balance might be the February or March 50 calls but I don't want to go that route again. I've lost on January 75 calls last month by entering SNDK prematurely.
SNDK probably okay to 55 but I don't think today (still like QCOM better but we are already long QCOM anyhow) here is how I'd play SNDK. SNDK has really taken a beating and I've watched traders call bases at 55 and 60 only to have them cave in. 50 was our target we got 48.41 but didn't sell the March 55's until the 3 day 'rally' pulled back to just under 50 from 53.65. Besides holding a boatload of earnings plays like NVDA, HPQ, ADI etc. Time to take positions in the long suffering CI, CLX puts, CMCSA already posted earlier (50% GRMN puts) We had enough upside in those puts. Still strong downside in restaurant sector with PFCB our earnings play still heading for lows of the session.
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