The account noticed that the call associated in the trade had dropped all the way down to $0.45. So the account bought back the call. So the account sold the contract for $1.10 after commissions and bought it back for $0.60 after commissions.
The stock is currently trading around $4.30. The stock hit the 100 day ma earlier and rebounded up to hit the 50 day ma on decent volume.
The account feels that with earnings coming up in the next couple of weeks, the stock has an opportunity to rise and the account can capitalize. Stop limits have been adjusted to reflect the sale of the call.
- This information is not to be used as a recommendation to buy or sell. It is simply information and opinions given to the reader. Before investing, please consult a financial professional. This blog takes no responsibility for any losses or gains occurred from trades that use its material.
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