Option Trade Of The Day
Source: http://feedproxy.google.com/~r/StocksOptionsBlog/~3/HCkVB2ElIok/Posted on Wednesday, March 4th, 2009 | In Stocks to Watch
Wednesday March 4, 2009
Navivest
The following trade is from the March 4 issue of The Options Capitalist, our subscription bases trading advisory service for options traders. If you would like a follow-up on the trade, and a two week free trial subscription to the services, click here – the link will open in a new window.
THE STOCK:
Freeport McMoRan. (NYSE: FCX) $28.41
THE TRADE:
Buy the Freeport McMoRan March 2009, $30 calls.
Option Symbol: FCX CF
Current Options Price: $1.75 – $1.77.
TRADE RATIONAL:
Stocks will be attempting another rally again today and FCX should be a strong performer.
FCX might open to the upside. If this is the case, buy the calls up to $2.40. Check email often for the exit alert, we want to be out today. Enter only if the stock market opens to the upside. If we are able to enter, put on a larger trade than you normally would. We are looking for 20% + gains today.
Tags: options options trade trade recommendation freeport mcmoran
Last 5 posts by Daniel Shepard
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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