Just bought 2000 more shares at 26 to bring my holdings to 16000 as support at ~28 was broken and the new support is ~26. Lets see how this plays out. I'll scale back to 14000 shares as it climbs to the new resistance at ~32.
i just added 500 shares today 25.76, i haven't been in the stock since i sold a few days after earnings@ 29.6. i sure left some on the table when it furiously zoomed to 33. oh well. my position is significantly smaller now but i may double in if it slides further. sure hope not.
The options are out of wack at the moment. If you look at the stock at $26, the Oct 25 call is selling for $3 and the Jan $25 Put costs $4. That is a $2 spread and traditionally FMCN has been a $1.40 spread on this type arrangement. There won't be a KE until after the SEP expire. Doesn't work for my play. Whether this stock will go up or down is anyone's guess. The macro factors are currently outweighing the company values.