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Gene Andrews  

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  • Zacks' Bear Of The Day: International Paper [View article]
    Thanks Ray. -- It could be a great trade. It is working out at the moment, but I will wait until it closes to confirm.
    Mar 21, 2014. 10:04 AM | Likes Like |Link to Comment
  • Time To Buy Freeport-McMoRan On The Pullback [View article]
    Anup - I am Short the Aug 15'14 30 put; the Aug 15'14 32 put and long the Aug 15'14 32 Call. I am obviously bullish on FCX. Although it is OTM for the moment (mostly the calls) if this stock is "put to me" I will own 6000 shares at an average price of about $29.50. If that happens I may sell the calls buy some puts and be long calls "synthetically". All that to say that I agree with you. Whether we are right or not ... I suppose we will need to wait for time to reveal that mystery.

    Have a great day...
    Mar 20, 2014. 03:45 PM | 1 Like Like |Link to Comment
  • Bank Of America: A Compelling Buy On Rising Interest Rates [View article]
    Hey Bret – I concur on BAC. Good call. On a side note just to appreciate where and why it all started (i.e. where and why the advance first commenced). Check out the following Block Trades.

    23-Sep-11 13:07:44 THRD $6.31 60,000,000
    23-Sep-11 13:09:22 THRD $6.31 60,000,000
    23-Sep-11 13:14:27 THRD $6.31 9,000,000
    23-Sep-11 13:14:37 THRD $6.31 9,000,000
    23-Sep-11 13:14:41 THRD $6.31 9,000,000
    23-Sep-11 13:14:48 THRD $6.31 9,000,000
    23-Sep-11 13:14:53 THRD $6.31 9,000,000
    23-Sep-11 13:15:00 THRD $6.31 9,000,000
    23-Sep-11 13:15:04 THRD $6.31 9,000,000
    23-Sep-11 13:15:15 THRD $6.31 9,000,000
    23-Sep-11 13:15:22 THRD $6.31 9,000,000
    23-Sep-11 13:15:34 THRD $6.31 9,000,000
    23-Sep-11 13:15:38 THRD $6.31 9,000,000
    23-Sep-11 13:15:43 THRD $6.31 9,000,000
    23-Sep-11 13:15:46 THRD $6.31 9,000,000

    BAC trades some very large blocks but these are extraordinary. There were many more blocks but these all occurred after the close on the same day at exactly the same price.

    In late February and early March I believe they began another leg up with more large blocks. There could be a short term temporary shakeout but I agree with you it is going higher.

    Have a great day...
    Mar 20, 2014. 03:19 PM | Likes Like |Link to Comment
  • Zacks' Bear Of The Day: International Paper [View article]
    Ray - FYI -- I sold (20) at $4.10. If it works I will own 2000 shares @ $40.90. If not I will walk with $8K. Worse things could happen -- but i'm good for the moment.

    Have a great day...
    Mar 20, 2014. 02:51 PM | Likes Like |Link to Comment
  • Zacks' Bear Of The Day: International Paper [View article]
    nochance - Selling the Puts is actually a bullish play intended to establish a long position at lower levels. Here is another tactic if in the event you are fortunate enough to have the stock "put to you". You could then buy puts and be long "synthetically" calls. The strike price for the long puts is best determined when already in possession of the stock.

    Just trying to squeeze as much juice out of the fruit as possible.
    Mar 19, 2014. 09:42 AM | Likes Like |Link to Comment
  • Zacks' Bear Of The Day: International Paper [View article]
    Ray - It looks even better today @ $3.95 Bid $4.05 Ask
    Mar 19, 2014. 09:35 AM | 1 Like Like |Link to Comment
  • Zacks' Bear Of The Day: International Paper [View article]
    I would not be shorting IP at these levels. However, I would sell the Jan 16'15 45 put at $3.90 or better. I suspect that insiders were distributing in mid February and they are beginning to cover short positions and accumulate presently. The block activity was fairly pronounced in early February as well. This information is now available on my website but it ain't free.
    Mar 18, 2014. 01:50 PM | Likes Like |Link to Comment
  • Can Carl Icahn Push Chesapeake 40% Higher? [View article]
    Hi Bret - I know you are a long only guy. As for myself I am more market neutral with a slight bias to the directional trend. I was just filled on a cover for Jul 18'14 25.00 puts. Bought them at 2.18252 and the cover was @ 1.23. Even though it filled I'm not quite ready to go long. In the event it approaches 25.00, I will either sell some puts or go long calls (synthetically).

    Happy Trading
    Feb 24, 2014. 10:36 AM | Likes Like |Link to Comment
  • Chevron Is A Disappointment [View article]
    Spinrbait - they were the 15's, hence the Jan 16'(15). I did not see big blocks of calls ... I saw big blocks in the underlying. Nevertheless, you can scan for unusual option activity through various services which cost about $500 per month. Sometimes opportunities present themselves in the equity environment and other times they present themselves in the options environment (sometimes both).

    Obviously, options happen much quicker and you only get a glimpse. Unfortunately, collecting trade activity in options is a manual endeavor (at least for me); whereas, collecting blocks of stock is automated.

    I like the covered call play, as well as the weekly's - you could also consider buying puts and being long calls synthetically (for a little downside protection) if their pricing presents an advantage. It really depends on what is happening in the bid/ask and on how long you intend to hold the stock.

    So many choices - that must be why they call them options....
    Feb 23, 2014. 10:26 AM | Likes Like |Link to Comment
  • Chevron Is A Disappointment [View article]
    CVX has been berry good to me. I bought 50 Jan 16'15 110 calls @ 7.00608. The bid at the moment stands @ $8.85. I will ride it out a bit further probably when the underlying breaks $121.00 (another 6 bucks or so). If I see more large blocks at critical levels I will either add to my position or liquidate.

    I reasoned from some of the big blocks that I witnessed that insiders were covering short positions that they established in late December.
    Feb 20, 2014. 12:30 PM | Likes Like |Link to Comment
  • Procter & Gamble - An Advance Most Likely [View article]
    It was a much different jungle back when your aunt bought those shares. People actually invested in companies to provide capital for expansion. The capital created jobs, accommodated research, built facilities and sparked innovation. The market itself has now become a product. Not that I have anything against carpetbaggers per-se, it just doesn't seem like the type of innovation that built America. God Bless your aunt and others like her for having faith in the American way....
    Jun 4, 2013. 11:34 AM | Likes Like |Link to Comment
  • Consolidation And Growth Levers Should Make Express Scripts A Long-Term Winner [View article]
    I went long ESRX on Dec 27 @ $52.75. This is just a trade
    Dec 28, 2012. 09:20 AM | Likes Like |Link to Comment
  • Coal Stocks Look Ready To Run [View article]
    Hey James --- You are correct. But I'm OK with it because I have traded it twice in the last month (short and long) for some nice returns. In retrospect there are many trades I could have made and a few I should have never made. That's just trading. Thus far out of 124 round trip trades: 114 have been profitable. I wish it could be 100% but it is not.

    Back in at 7.25 would have been nice but like I always say I would rather be wishing I was in, than wishing I was out.

    I was stopped out on AAPL yesterday and as distasteful as it was I felt a sense of relief. It was like passing a kidney stone.
    Dec 6, 2012. 08:59 AM | Likes Like |Link to Comment
  • Coal Stocks Look Ready To Run [View article]
    Sold ANR yesterday @ $7.60 -- Gain 7.80%

    Will buy back in at $7.05 if possible.

    Cha ching!
    Dec 4, 2012. 08:48 AM | Likes Like |Link to Comment
  • Can Procter & Gamble Save Your Retirement Portfolio? [View article]
    I am looking to short PG ... just waiting for it to hit my price target.
    Nov 29, 2012. 06:52 PM | Likes Like |Link to Comment