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august 30 put options

 
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ninner



Joined: 17 Feb 2006
Posts: 167

PostPosted: Tue Jun 20, 2006 8:46 pm    Post subject: august 30 put options Reply with quote

bought some today at 3.60 of SWN ...it hasnt been able to regain the 20 day ...what do u think of this strategy.
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Tue Jun 20, 2006 11:44 pm    Post subject: Re: august 30 put options Reply with quote

ninner wrote:
bought some today at 3.60 of SWN ...it hasnt been able to regain the 20 day ...what do u think of this strategy.


I think it's a good strategy. SWN is headed south and I can't see it heading back up anytime soon. EPS and Fundamentals are strong, but it's under heavy distribution and it's relative strength sucks. The Gas Producing sector is having a rough time overall.
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Optionman



Joined: 04 Dec 2005
Posts: 20

PostPosted: Wed Jun 21, 2006 5:40 am    Post subject: Reply with quote

SWN has a pretty nice downward trend, but one of my propriety indicators suggest it may bounce up for a day or 2 or even more. I would watch it closely and if it breaks the downtrend and closes above 29 I would consider closing it out, (I may even give it until a close above 30 since you have time on your side with August puts). If it manages to remain below that down trend line and begins a good downward move you should make some good money on it. With the markets looking like they are going to continue their downward move this one may do well.
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Sunman



Joined: 02 Feb 2006
Posts: 7
Location: San Antonio

PostPosted: Wed Jun 21, 2006 9:43 pm    Post subject: Reply with quote

Check out this stock and sector (energy) on a monthly and weekly chart.

This may give you some insite.

This has been in an up trend since 2003.
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Sat Jun 24, 2006 11:44 pm    Post subject: Reply with quote

Dang! Where'd that gap up come from on 06/23? Something must've happened with this thing. Shocked

** Update - Yep, this is what drove it up. **

NEW YORK (AP) - Shares of independent oil and gas companies soared in Friday morning trading on the New York Stock Exchange, following news of multi-billion-dollar acquisitions that Morgan Keegan analyst Subash Chandra said "raises the bar" for other aspiring companies in the sector.

Early Friday, oil and natural gas producer Anadarko Petroleum Corp. said it would pay $16 billion in cash, or $70.50 per share, for Oklahoma City-based Kerr-McGee Corp. Anadarko also plans to buy Western Gas Resources Inc., an independent natural gas explorer, for $61 per share or $4.74 billion, and will assume $560 million in debt.
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