- Posted by chicagosean on September 21st, 2014 at 10:31 pm
On Wednesday, $TGTX broke out, setting a new all-time high print at $12.45. And this breakout was on the highest volume of the past 12 months.
As the stock backed and filled on Thursday and Friday, I left out some limit orders at favorable prices. And on Friday, I got a tasty fill on a short put and used the proceeds to enter a bullish call spread to play a further exploration of blue skies as the stock breaks out to new all-time highs.
My Position:Short Oct 10 Put Long Oct 12.50 Call Short Oct 15 Call Net credit: 30 cents.
The plan is for this stock to resume its thrust to new highs. If it does, I’ll participate up to $15. If or when it gets above this level, I’ll then be looking to close out my call spread for a profit.
If the stock breaks below $10, I’ll spring into defense mode, likely just closing the whole game down since available options strikes every $2.50 price point doesn’t offer a lot of flexibility.
If it does neither, at least I caught a nice credit and walk away with something.
Posted by chicagosean on September 12th, 2014 at 10:20 pm
9/12/14: Recent Chinese IPO Weibo $WB has spent the summer tightening its range, most recently consolidating in the $19-$21 area. On Tuesday this week, the […]
Posted by chicagosean on September 12th, 2014 at 9:48 pm
9/12/14: Entered a long position in $AVNR today. It had the 3 things going for it that I like most: Big breakout, on high volume, […]
Posted by chicagosean on September 11th, 2014 at 10:11 pm
9/11/14: A cordial tip-of-the-hat to @venkysrinivasan on StockTwits for giving me a heads up on a potential “hundred-dolla-roll” candidate this morning… @BeckyHiu @chicagosean keep an […]
Posted by chicagosean on September 10th, 2014 at 11:42 pm
9/10/14: Entered a bullish position in $INFI today. This one caught my attention last week after a big breakout on HUGE volume. In the ensuing […]
Posted by chicagosean on September 9th, 2014 at 6:49 pm
9/9/14: Entered a bullish Risk Reversal in $NOK today. This opportunity was highlighted to me last night by @DrKris on StockTwits: @chicagosean Interesting that Nokia […]
Posted by chicagosean on September 9th, 2014 at 5:47 pm
9/9/14: Been watching $VEEV since it broke out of a 5-month range a couple weeks ago. It’s been hanging around, baiting me to get involved. […]
Posted by chicagosean on September 8th, 2014 at 10:42 pm
9/8/14: Started building a position in $CRTO today, getting filled on the first leg of my two-part order. Currently long the Oct 40/45 call spread […]
Posted by chicagosean on September 8th, 2014 at 9:33 pm
9/8/14: I entered a new bullish position in $DHX this morning. Bought straight stock via a standing limit order at $8.74. Would’ve prefered to enter […]
Posted by chicagosean on September 6th, 2014 at 7:06 pm
9/6/14: So I was on a little paternity leave last week and tried my best to be completely disconnected from the digital world. However, an […]
Sean McLaughlin - Editorial, Curation, & Investor Relations Solutions at StockTwits. Also, former Member of the Chicago Board of Trade who trades his own account in Boulder, Colorado. More »