|This Trade Was Closed August 21, 2012|
Am I the only one getting freaked out about this market? I gotta get a grip but for now I think I am going to take profits on this trade. Its up a lot and I don’t think I want to hold through the real estate reports tomorrow and Thursday of this week.
I sold it for $2.00, which is not as good as I hoped but still represents a 100% gain. Makes up for my BAC straddle last month – ouch!
Original Trade Post:
TOL Reports earnings next week and has been stuck in a channel for over a month. The fact that TOL has not rallied while the market has been drifting higher is a bit of a concern but when I saw the NAHB sentiment survey this morning I started to think this is undervalued.
I am not really playing any specific technical pattern. The channel is still intact but I am entering now to see if I can catch the bounce or gap up following earnings next week. This should be interesting.
- The Ticker: TOL
- Target Price: 2.50 per share
- The Trade
- Buy to Open Sep 2012 31 Calls at 1.00 or better
- Trade Opened: August 15, 2012
- Trade Closed: August 21, 2012
Chart courtesy Finviz. Click to open larger.
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