Options Oracle: 05/30/14


Last Wednesday, May 21st, an alert went out on Home Depot to buy the January 2016 65 Calls for $15.40. There was a bullish engulfing pattern at the time and shortly after the alert went out the stock rallied. We are up about $2 on the calls and although it’s tempting to take a profit, I think it’s best to turn this long call position into a diagonal calendar spread.

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