Replies to post #4374 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[jmbell42]

I agree.

While I'm very bullish, I've been waiting for a retracement downward. It's also very convenient that below $8.50, a good chunk of calls will expire worthless.

There was an interesting paper that I read recently on call option expiration and how prices tend to gravitate to "suspiciously advantageous values" near these calls… just close enough that they expire worthless.

At any rate, no material changes here… just lack of enthusiasm.

By the way, I love that picture ErJ!