| This Trade Was Closed August 21, 2012 |
Time to ring the register on this one.
Exited all traunches of this trade today at 1.70 per contract for a profit. Original entry was .65 per contract.
Original Trade Post:
I noticed last week that Call options in LEA were very active, and today, VC had a huge block of Sept calls traded at the ask (most likely a trader going long). Both companies report earnings tomorrow, so there obviously are some traders placing some heavy bets that these 2 auto suppliers will beat expectations come tomorrow. I’m entering a long trade in LEA Sept $40 strike calls at .65. IV is pretty high on the options, so I’m getting them a little expensive here, but I am willing to take that bet given what I am seeing in the very bullishly lopsided options activity.
Trade Details
- The Ticker: LEA
- The Trade
- Buy to Open Sep 2012 40 Calls at .65 or better
- Trade Opened: August 1, 2012
- Trade Closed: August 21, 2012
Chart courtesy Finviz. Click to open larger.
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