Jesus christ I sold my puts before the close today. Didn't want to gamble, but it turns out I was right. I bought the Nov 20 puts at 2.45 today. Will be worth 7.5 tomorrow morning...oh well...can't win them all, next sector to short-coal!
They are not oversold. At an anualized eps of 1.5 a pe of 9 gives you aprice of 13.5. If you go back a few months to april and may insiders were selling this like crazy I ignored that simple fact and am paying for it now. I am bailing tomorrow at the open and not looking back. I am moving my infrastructure portfolio piece to flr or jec. Any way you slice it these guys hosed us. They could and should have warned on this quarter. It has been tough enough in this market, good companies with great earnings have been getting crushed. I have no interest in an outfit that throws me nasty surprises on earnings day. To me it is one of two things, they are slimey or they do not have a handle on their business. neither one is acceptable to me.