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Zumiez, Inc. Message Board

  • amethey amethey Dec 2, 2010 5:26 PM Flag

    Averaged down

    Got hit pretty hard on my Dec 30 Calls, ouch. I think the stock will start moving again in a few days. I listened to the conference call, the analyst all congratulated them on an amazing quarter, not sure how long this correction will last (but I hope not longer than the third Friday of December)

    Originally bought them for 1.35, they were up to 3.40 during yesterdays highs.

    They got crushed today, picked up some more for .85, closed at 1.10.

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    • Would you not agree the large run-up has slowed?

      +25 Wednesday, +15 Thursday, unchanged today and bad economic news.

      I lacked conviction to make a big purchase because i am expecting positive news from the Bush Tax Cut extension. But we will see!

    • Not sure how long you have been trading options, but in my opinion you made at least one mistake.

      That is, you should probably have looked at further out date of expiration. These calls expire in a couple of weeks, since there is a good chance that the stock will be below your call price, they will be worthless at that time. Hopefully that does not happen.

      Of course, you can always sell them prior to expiration, good luck.

22.45+0.10(+0.45%)Oct 25 4:00 PMEDT