Friday, June 15, 2012

Stocks I’m Watching - 6/15/12


I’m currently in an options trade for ATT (symbol - T).  I have 3 August 18 $37 calls at $18.  Currently I’m up $31 minus commission costs.  Both ATT and Verizon have been on a huge upswing trend since last week.  ATT has been going higher all year even when the rest of the market has pulled back.  I’ve been taking profits at various technical levels and have been timing entries on the way up.  This options play is a classic case of “the trend is your friend.”

I saw that Starbucks (symbol - SBUX) had a huge sell off and was setting up for a decent comeback.  I missed my early entry but got in at a decent level with 2 Oct 20 $67.50 calls for $31 .  It has since gone up but unfortunately not enough for me to make a profit yet because of commissions.  I will wait to see if it goes higher today.

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