Jack Haddad's  Instablog

Jack Haddad
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Jack Haddad
  • Macys was indeed oversold 0 comments
    May 15, 2009 10:50 AM | about stocks: M

    Those who bought thismorning as shares hovered between 11.20 to 11.35 should be smiling now.  Shares have definitely been oversold in the past 7 trading sessions.  For those who are looking to establish hedged positions, consider writing either june strike 12 (slightly out of the money) for 1.05/contract or strike 11 for 1.65/contract.  Both offer great intrinsic time value against the current underlying shares.

    Once again, M shares are the cheapest relative to any retail stock in the sector.  Stock should be trading north of 20 according to EDIBTA

    Stocks: M
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