The Volatility Trader
105 W. Monument Street
Baltimore, MD 21201
Thursday, May 11, 2006
#117
Action To Take:
Sell the Comverse Technology Calls
We’ve hit our trailing stop on the Comverse Technology (Nasdaq: CMVT) call options.
Sell the June $25 calls (CQV FE) today, which are currently trading at 25 cents.
The good news, of course, is that the put position is moving in our favor. We bought the put contracts (CQV RX) at 85 cents, and they’re now trading at $1.05. Hold your put position open and I’ll keep you posted.
Good trading,
Steve
Current Portfoli
Option: Comverse Technology June $25 call
Price: $0.25
Comment: Sell. Hit trailing stop.
Option: Comverse Technology June $22.50 put
Price: $1.05
Comment: Hold.
Bi
Before joining The Mt. Vernon Options Club, Steve was honing the skills that make him an invaluable resource for our members. For 10 years, Steve was a professional broker with a prestigious Baltimore based full-service brokerage where he specialized in helping retired and semi-retired investors create and preserve wealth. His firm recognized his work with the elderly when he was selected as a representative to the Clinton Administration’s Council on Aging. Steve is a regular contributor to the Smart Options E-Report and Accelerated Profits Report.
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