I purchased two AAJU, Alcoa options before earnings today. Alcoa usually runs up prior to earnings, and I expect today to be no different. I payed a pretty high premium, but currently the low of the day. If FED minutes are bad I will sell. If the contract reaches 2.40 today (I bought mine at 1.90, this would be roughly a 25% gain for the day) I will sell. If neither of these two occur I plan to sell one option prior to closing and keep the other one through earnings.
I still have my five INTC options, and they are now priced around 1.02 per contract. This is pretty far down from where I purchased, but I'm not too worried. These options have been bouncing around and barring any horrendous news I only expect earnings to really move them. Let's see if it gets a run up prior to earnings...I believe they are next tuesday.
GRMN has taken off!!! I'm disappointed I didn't get another 10 shares...I had a limit order in at 94.50 last week but it only grazed upper 95's. Today GRMN is at 110. I'm also selling my EMC shares today so I can have sufficient money for downpayment on house. I'll sell for 21.50 or better, a 10% gain in a little less than a month. Remember I still have my may option, EMCDC, which I purchased for 5.00 a contract, now currently 7.00 a contract (40 % gain).
and last of all...go Alcoa.
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