|This Trade Was Closed March 20, 2012|
Sold for a profit @ .80
Original Trade Post:
Jones NY is breaking out of an inverse H&S pattern today. With the SP500 reclaiming the 1370 level, I look for continued strength in equities, making it possible for breakouts like this one to continue to move upward. Targeting 11.80 in the shares before expiration, which would roughly equal $1.10 in the options.
- The Ticker: JNY
- Target Price: 1.10 per share
- The Trade
- Buy to Open Apr 2012 11 Calls at .55 or better
- Trade Opened: Mar 9, 2012
- Trade Closed: Mar 20, 2012
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