Just last week, we closed the second half of the DIA July 182 put and the KORS July 47.50 call for respectable gains.
We still hold a MCD June 95 put and a new MCD August 97.50 call. We hold the AXP July 80 call, the QCOM June 67.50 put, the ERIC July 11 call, and the second half of the PG July 80 call. All remain on hold at this time. We are constantly watching each position for potential exits.
As for new trade ideas, consider Zumiez (ZUMZ) the retail accessory stock. The stock fell close to $6 on Friday on a Q2 earnings outlook disaster. But it’s an overreaction that we can profit from quickly. All we want to do is buy a call, and get out once the stock bounces from oversold MACD, RSI and MFI.
Consider buying to open the ZUMZ August 2015 25 call up to $1.60.
Take good care…
Ian L. Cooper
Forgotten Profits