Purely speculative long for portfolio. Only buying Dec. $10 calls vs today's low (risk defined). Looks like a false breakdown from the bullish descending wedge.
Not going to touch common shares. 5Y CDS on JCP is still high. If markets were to break down hard to see how JCP would hold up.
Yorumlar
DbSG
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I made the wrong call. The CEO morning pump + GS afterhours news about JCP screwed up the trade.
I am still keeping the Dec. $10 calls in my portfolio (small size) as a speculative play. I will not average cost at all. This trade has become more of a small lottery ticket/ Contrarian trade.
JCP needs a reallllllllllllly strong catalyst to turn around from here. I am not trading its shares at all. Just option plays.
DbSG
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In the After Hour session JCP came out with the news of selling shares via GS for funding. So I am not sure how the market will react to this news after the morning pump by the CEO.
DbSG
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False breakdown is not confirmed yet. The candle + volume today is making me anticipate a false breakdown. Though if price breaks the low of today on high volume then my analysis would be wrong.
Also, too many bearish calls coming from C and GS at the lows, so i feel a bounce instead of further breakdown is warranted
I am still keeping the Dec. $10 calls in my portfolio (small size) as a speculative play. I will not average cost at all. This trade has become more of a small lottery ticket/ Contrarian trade.
JCP needs a reallllllllllllly strong catalyst to turn around from here. I am not trading its shares at all. Just option plays.