02-07-2013, 06:16 AM
'TomCrooz' pid='17137' datel Wrote:Sold out my March 60 calls around 1/25 and bought the June 60 @ 7.75 a couple days ago. March expiry way too close to anticipated news. Hope news of selldown before June will occur but I am somewhat nervous that even June is optimistic.
Interesting, I did something similar the other day. I had some 50's and 55's and decided to sell them. I then repurchased the Jan 14 40 calls. Although I don't have the leverage I normally like, I just can't help but think that if the MM and shorts start playing games again, it would stink if they pressured the price down below 50 and they expired worthless, That is - in the event the board decision was delayed by a couple of weeks. Also, by moving the calls out a little into the future, that gives me the ability to hang in there if a bidding war does begin. I can't help but think the IOC is going to get take out this year.