We hesitated a position yesterday as the stock closed at the high of the day. Glad we did…
It opened another 40% or so higher and things are moving so fast that we can’t write fast enough..
Anyway, selling short-term out of the money (Feb) calls was not an option with this one anyway, only an outright short was, so we’re not too concerned and happy we waited..
Today’s action does prove we were on to something, though. After reaching another stunning high of $8.62 just after opening the stock has given up most of the rise today and is trading just above $7 now.
We only wished we could publish faster..