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J. C. Penney Company, Inc. Message Board

  • puregamble5 puregamble5 Apr 2, 2014 12:47 PM Flag

    Today's move is to trap option players

    They do it like clockwork every week. Up today to sell weekly 9 calls and then take them to zero in next two days.

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    • I think that is one part but the bigger picture is seeing the selling wall over 9.00 . Still buying keeps pushing higher. Question is the selling over 9.00 someone reducing a holding or a short seller or both? Not sure is is smart to be shorting JCP anymore but better to look at covering. I saw this with BAC where it was under 6.00 and shorts wanted 2.00 a share..BAC is now over 17.00 a share. Same is occuring here and I expect JCP will be 16-24.00 a share this time next year.

      Sentiment: Buy

8.50-0.62(-6.80%)Feb 27 4:05 PMEST

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