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Dr. Kris
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Dr. Kris has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her satisfaction), she decided to tackle something even more difficult—the stock market. Applying the scientific method along with an insatiably... More
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  • Trade Alert! Copper ETF (JJC) breaks major support 1 comment
    May 5, 2011 12:39 PM | about stocks: JJC
    The copper ETF (NYSEARCA:JJC) broke major support at $54 on heavier than normal volume. Next major support level is $49.

    One options play would be a bear-put debit spread. The June $53/$49 is currently trading at a net debit of $1.60 ($2.30 for the June 53 put and $0.70 for the June 49 put). Maximum profit is the difference between the strike prices less the cost of the spread which is $4 – $1.60 = $2.40, giving a maximum ROI of 150%. The JJC chart is below.

     

    Themes: metals, copper, option spreads Stocks: JJC
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  • rubberoptions
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    Dr Kris, I'm truly impressed by your resume. what's your forecast for CU in 6 months?
    5 May 2011, 03:46 PM Reply Like
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  • Intraday support/resistance: $SPX 1994.5/2004.5, $DTX 838.25/843.25, $DJIA 17035/17115, Nasdaq 4554/4584, $RUT 1165/1174; $VIX 11.75/12.25
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