OT: LINE ... is anyone planning to trade LINE on this dividend run up?
I have purchased 818 LINE February 2013 $35 Calls for 1.69. I plan to hold these Long till LINE reaches $38 pps at the height of its dividend run up between late January and early February and I plan to sell them for 3.00, I hope. I am holding $50k as backup, just in case things go south...I can start all over again from $50k, instead of $0. Good luck to us all, I'm buying another "rabbit's foot" for good luck and I'm going to hold on tight to it.
So you put 139k chips on the table. Not bad salary for the first month of the year.
I just doubled my substantially smaller position in line this morning. Did not get as good a price, 1.75
Also picked up some QRE July[I think] atm calls.
The absence of a market selloff this friday is promising for the remainder of the winter. Until feb when debt limit brinksmanship upsets the cart.
When you check the LINE summary page there is an article "Oversold Linn Energy could rally..." That is the article that prompted me to double up. I tried to post it here but could not get around yahoo filters.
Then there is the OptionMonster article about your trade posted at 10:55 eastern.