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Linn Energy, LLC Message Board

  • ronharv ronharv Jan 10, 2013 11:25 AM Flag

    For Option Gamblers

    LINE continues its northbound momentum. So there's an odds-against shot at it breaching 38 by the end of next week. For those inclined to roll the dice, the Jan 38s (which expire at the end of next week) can be picked up for .15. Ahead as I am with other LINE options and 5.5K of trading units, I bought 35 of the Jan 38s. With just a little luck . . . . Otherwise it's a relatively light bet.

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    • Ron, I've got 240 38's w/ a price of .31 on them... I was sure hopin' for a bigger pay day than what I think I'll get... If I can get out at break even, I'll be fairly releaved, as currently, I'm just in the house of pain. :-/ Think we'll see a bid north of .30?

      Sentiment: Strong Buy

      • 2 Replies to A Yahoo! User
      • It could very well work out in your favor. I have 225 Jan 2014 calls on RIG (Transocean). They have more than doubled in the last week. Yes....I have a lot more time left on them than you do but the momentum has been and is UP and in your favor as we trade toward expiration. Good luck to you...... and no I don't sleep that well either...............

      • You're a bold fellow indeed, Monsieur User. 240 of them! Wow! In the middle of the night that many would be haunting me like the Ghost of Christmas Past. In your favor is the continuing momentum on decent volume that LINE is showing. I'm guessing that next week, absent any plunging market days, there may well be anticipatory buying with a focus on the following week's announcements. So LINE is fully capable of driving north as much as 1 1/2 pts. between now and Friday the 18th. It'll take some luck, but I've seen it pop before, so it could do it again without causing jaws to drop. Note that I'm not forecasting, but I believe you've got a decent shot at possibly doing better than breaking even. I'll probably wait until early Friday (the 18th) to dispose of my puny 40 contracts, unless there's an earlier spike in LINE's PPS. Meanwhile, the trend is our friend. Let's hope it lasts.

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