To buy more. I sold some calls a week or two ago for a nice profit but watched them go 15% higher in days. If I catch a break I can buy them back with a slight out and in profit. Sold them to buy BMY calls and made money there but there good numbers came out today OK, but not great, so I'm back. Have not sold stock of course. Still waiting for $30 or better.
Well I'm in again at a price I asked for lol. We are already below (not but much) did I catch bottom? Probobly not but I'm happy. I should have factored in this market haircut, could be 10%, who knows. Well I'm in. I favor long term options, in this case Aug. Not as much profit or loss but a lot more options with time.
You would think by now that people would understand that this is under accumulation and one of the strategies they use is to take out the stops - usually at 8% to 10% lower than the high. It happens like clockwork with this stock and many others. But, here we are again.