Thursday, July 17, 2008

Waiting on GOOG... USO thoughts

I am waiting to get closer to the end of the session to firm my decision...
I do know that I will buy July options. I will risk one portfolio. If it moves half as much as last earnings there will be alot of happy options folks...

Gio had a survey for option positions yesterday. he was smart to get the puts yesterday... i thought of it but thought if the rally continued i would pay another premium...

Considerations: this is with the thought that i lose it all...
puts: july420 & 450/aug400
calls: july600 & 630

Will check back tomorrow... i am in a somber mood. not much excitement.

USO has gotten absolutely pounded the last few sessions. as it should, with the FED saying the may very will firm or even raise rates took the floor out from oil. i LEAP in oil puts is a great idea. DUG LEAP calls are still cheap as well...

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