With the stock so overbought and undervalued, I think the stock is a great short opportunity here. I think the best way to approach the trade is to write a call spread. You can see the details here - http://www.thinktrade.net/my-trading-journal/2012-08-19
With the stock back up near 36, it is a good time to sell call spreads again. The 39/40 or 38/39 should give you a little room to be wrong.
How is that short workin for ya? SHORT EVERYTHING FINANCIAL WAR IS HERE
Guys, please cool the rhetoric. Let's have a cool debate (if you guys want to have a debate). Enjoy the ride up on this stock. It's cartainly a winner.
If you want to address rhetoric, then address him only. I wasn't engaging in rhetoric - only he was. If this conversation turned into a joke, it was because HE turned it into a joke. He even admitted so in his reply.
I couldn't get filled on my credit spread.
What does that tell you then? Bullish trend? I think it's a mistake taking any short position in this stock in the short term, whether through options or the stock itself. Just my opinion.