Interdum stultus opportuna loquitur...

Saturday, July 23, 2005

USRant II: I Almost Forgot XBATH...

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n all the hasty outrage, I forgot to mention XBATH - the eBay $40 put option that I advocated yesterday (in the "Bellwethers" section of yesterday's USRant). To recap:
The August $40's (code: XBATH) closed at $65 ask; they ought to open weaker tomorrow... should be like taking candy from a drooling idiot.

There's going to be some moaning about my treatment of this advocacy - the option actually traded at $75 at its open, but I am going to declare for Rant purposes that $60 was the entry (since it's pretty clear that I expected not to have to overbid). Bids at $60 were filled, no problem - the option's low was $50 in fact.

The option closed at $80 - and intraday gain of 33% based on an entry price of $60.

Drooling idiots and their candy are soon parted.