KKD straddle June 20 puts $1.55 to $1.60, June 20 calls $01.55 to $1.70 and this was one the most difficult. Now that we've finally gone into profitability, KKD can be shorted and gone long via the 5 minute chart. This is also why "anticipatory upswing" or 'anticipatory downswing' before the report is so important as well as the gap play AFTER the report. Lately I've preferred the gap 'n crap short even more but you can really enjoy BOTH. We give the gap 'n crap short (usually until 10:00) or the gap 'n snap long to those that don't play options but can be used to supplement any option playing as well. You can't do this if you watch 25 to 35 new stocks a day, its more planned and followed through and is MILKING the doughnuts in this case.
10:00 is usually a playable trend change, and for KKD it becomes a trek not unlike NKE. At this point I would be shorting spike highs in KKD after this mornings big gain. KKD was a short before the report but when it just got to be a teenager there was nowhere to go but up. KKD now becomes a frequent trader, both the short 1-2 day bear flags or just for the intraday 2-trend play. You don't have to do it but we have plenty of time before option expiration in June and with the sudden bounce of the calls we can play KKD more aggressively.
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