04-23-2014, 09:05 PM
Good luck but it's gutsy me thinks. When IOC was $43ish we bought stock but should have bought calls. We did sell some out of the money puts for generous premiums . Being less gutsy The second time IOC crossed above its 200 day average we bought in the money June calls expecting some positive drilling news from any of the wells . Modest bet where we expect return of our principal plus a nice return.
The above said when IOC hit $9 we bought 500 June $25 calls and hit a home run. The volatility I suppose wore thin when we missed the bet at $43ish. Oh well. Good luck!