Today’s trading outlook
Greece is gonna go with the EU fix (that isn’t a fix at all) after all. Or at least that’s what the media is telling us this morning. What a waste.
As for trading, well, we’ve got some 20-50% gains over night in our FIO call positions, as the stock is “only” trading up about $2.50 after last night’s report and not the $5 it was up in the after hour action last night. The stock was actually down there for a bit early this morning. The point is that I’m trying to sell a fraction of my FIO calls, maybe up to a 1/3, now while the stock is up 9% or so. I’m holding the rest and I might come back and add some common to replace these calls I’m trimming on any future weakness as an investment. But I’m still getting my arms around this stock and this company and I think it’s prudent to lock in some gains while I have them.
Other than that, I’ll consider buying some index puts if we rally another 100 points intraday today, mainly just to further hedge the portfolio.
I’m also working on another new long-term investment name and after I speak to management and some analysts about it, I’ll let you guys know so stay tuned.
