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    • Action Alert – ATVI

    ATVI

    Updated / Corrected…
    Making a small adjustment on ATVI this morning, rolling the Short SEP 37.50′s down to the 35 strike, thereby exiting the ST SEP 35/37.50 Call Spread as an Upside Hedge. We are replacing that ST Spread with the same Spread in OCT.  ATVI has now failed 10 sessions in a row to break back above the ST resistance trends that are basically flat.

    While we feel ATVI is a great LT Long, in this environment we will take every opportunity to collect as much ST premium as possible, reduce our risk and cost basis, and wait for whatever catalyst emerges to break the market out of this rut. In this case, we feel we should add a bit more time to this upside hedge to give it a better chance to work out in our favor.

    Rolled out to OCT Net Debit of $.30

    Coach BD

    08/25/2008 at 12:11 pm
    Posted in: Past Trades & Discussions, Trade Discussions, Trading Rules & Strategy. You can leave a response, or trackback from your own site.

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