J. C. Penney Company, Inc. Message Board
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I own 50 19.50 puts expiring friday
I bought them today for 63 cents. Where should I take profits? I believe this is worth 10 dollars but with all the short interest, I might have to consider a more reasonnable target before friday. any advice?
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Sell it when your up!!
Sentiment: Strong Sell
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I wish I had your problems. But you did pay a lot for them at 63 cents!
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Also you will have a $5k profit on open possibly----and the April $15 puts today about .32 will hopefully be about .65 --just what $19.50 weekly were- that would be a nice roll-out if it works
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you will get $1.60 for them, I suggest you close these trade ASAP before the short covering. I have the $20 March puts. I might close half of my position. Wait for any pop and re short. this garbage will go to $15 soon.
- 1 Reply to happy2daz
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downgrades and their s&p credit rating will be further reduced down junk status. what would the impetus be for the stock to move upwards? why cover? this was their best quarter, no warnings just dropped this earnings bomb.
didn't ron tell courtney regan that he "expected jcp to be profitable in 2013"?
imo, RJ is either deluded or a sociopath. he's in his own world.
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They'll try to scare you out tomorrow but I would hold through Friday's close....investors won't want to keep this over the weekend!
- 1 Reply to premiumpmpm
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Never hold options on the last day.
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sell them below $18 then roll it in to April $15----that is what I am going to do
- 1 Reply to housedoctor66
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thanks. I will cover half at the open and wait to see what happens. There is a small chance we see $15 tomorrow, I will look at how bad the bonds get hit, those give clues sometimes.
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