Monday, July 16

Milk Money holding update

I sold my CSCO last week, mainly out of boredom. Its up since then and will probably keep going. I bought a NYX Sep 85 call on Thursday for $4.00. Its currently trading at 4.70, but was as high as 5.50 today when NYX was up a buck. My target exit price is $9.00 which would require the common stock to reach the $92-93 range which I think is doable provided the market keeps pushing onwards and they can beat earnings. Hopefully the beat earnings by a sizable amount since this stock has traded rather crummily and merely meeting estimates might actually make the stock move down. I would have bought more than one call, but I decided I'd rather put money to work in the common. I'm buying more NYX and a little WFC tomorrow. WFC releases earnings tomorrow.

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