MUR - up in the market!
Sorry for the paucity of posts. This market combined with my options expiration faux-pas makes it hard to enjoy looking at the options market. I havn’t touched my watch lists for a few weeks, but I’m checking my profit/loss numbers daily on the MUR shares. Tomorrow is a dividend of $0.1875 per share, so I’ll earn $18.75 no matter what. LOL. I think my tax rate on dividends is higher than capital gains, however, so it’s not really an issue at all.
I am pleased with the market, however, I’ve gained about $100-$150 per day in the past four days. I’m STILL down a few hundred dollars, and my capital and margin is tied up in this stock. I’m OK to sit on it for a little while, but it’s really cramping my option trading style.
I’m ready to get rid of my day job, so I need to get this options thing figured out!
Here is the weekly chart for the past year. Looking at it from this perspective, I really hope this is not a head and shoulders pattern forming. In any case, I exercised my options at a strike price of 80, which is where the left shoulder sits. I would be thrilled ot sell at 80 and get my investment back. Perhaps at that point I”ll put in a stop limit order for 80 to limit potential losses. That of course is assuming it gets back up to 80…
How is your trading going?
Suzanne @ February 14, 2008