'jft310' pid='20325' datel Wrote:So I took my advice and sold a bit of common and have been a buyer of a bit of May in the money calls this AM, Example with a strike of $60 in May and you pay $14.50 if IOC is above $74.50 by May option expiration after the May CC one would make money. Controls some of the downside with considertable upside with a deal . Seems like good risk reward. My last call buy was when IOC was $57 and we bought the March $50 at $9.50 and sold them at $26. Odds of an IOC deal with Oil Search even talking about it seem quite high. Break even below $75 thats a good deal I think. I will trade these calls before expiration whatever happens. Do your own DD as always.
Just curious why you wouldn't pay the extra buck for June expiration? We all know it is good to have as much time as possible with IOC....if it is reasonably priced that is.