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ForMyOwnAccount
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ForMyOwnAccount is a seasoned Wall Street veteran and former buy-side investment manager schooled in the Graham & Dodd approach. He now regularly employs the long-term investing principles he practiced for years. He will trade anything and everything for his own account on both the long and... More
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  • We Don't Get Paid For Being Original -- I'm Going Long GE Call Options 1 comment
    Nov 24, 2009 8:36 PM | about stocks: GE
    A JP Morgan analyst upgraded General Electric (NYSE:  GE) after talking to GE's CFO this morning.  I think this stock is so badly hammered that there is nothing but upside.  I saw the huge open buy order placed on the Strike 22.5 January 2011 (yes, one year and two months hence) call options, ticker VGEAX.X. 

    I think it's a good bet, so I followed suit and went long those same Jan 2011 calls.  The ISE Sentiment Indicator shows that other traders are also bullish on GE.  One portfolio manager who used to work at GE said it is his "highest conviction stock."

    I just bet the farm on GE's going much higher before January of 2011.  I paid $75 per option, a pittance.  I could easily quadruple my money, and I am highly confident that I will on this trade.

    Disclosure:  No stock position in GE, long GE call options
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  • PUNK
    , contributor
    Comments (23) | Send Message
     
    I am long GE stock myself. 3344 shares average price 17.95
    I sold 3 puts with a strike price of 16 at 1.24 expiring in march 2010.
    25 Nov 2009, 09:55 PM Reply Like
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