Options Oracle: 08/21/14


On August 7th an alert went out to buy the January 2016 70 Calls and we would up getting a better fill than expected ($8.50). We bought the calls as the stock was filling an open gap expecting that the stock would rally to fill the second gap to the upside. The stock did in fact rally but it looks as though the price has stalled at the 61.8% Fibonacci Retracement line. I’d rather take a profit on this stock now than to have to forfeit those profits on another pullback in price.

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