|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: March 9, 2012
- Trade Closed: March 20, 2012
Chart courtesy Finviz. Click to open larger.
This is not investment advice. Learning Markets, LLC is not responsible for errors or omissions. Please be sure to read our disclaimer.