Well, Col, with options, you have to be doubly right on price and time. That's what I was looking at on CCMP.
Let's put it this way, if I bought CCMP 35's yesterday at 3.50, the price could go up $0.10 on the common and I'd still be looking at a 3% loss plus commission. That's mild compared to some individual stocks.
The play on CCMP for call options was at 36.50 or below. Above that the risk/reward is narrowed, IMO.
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