If a tree grows in the forest…
We got lucky on the Juniper pre-earnings gamble/trade and I’m glad we did it early this morning rather than missing it entirely by waiting til near the close…the company accidentally released earnings an hour before they were supposed to, which is after the market close. The stock has spiked up more than 10% from where it was earlier today and we’ve got an intraday double on our call options that we bought this morning.
I’m holding them for the rest of the day and I think we’ll get some analyst number bumps and/or upgrades tomorrow morning. I like the outlook from Juniper here and the second half of the year will bring several new big products for the company, so I’m likely to be slow in trimming these down and if the expire in the money in June I might let some them exercise and just hold onto the common.
As I’m typing this in real-time….
The stock is now halted, but I think they will let it resume after the close when the report’s had time to digest.
They halt it because the buy volume surged and technically, the investor relations department REALLY messed up by releasing the earnings early. So they want to let the traders/analysts/investors digest the report and let things settle before opening up the trading again.
