OII - 20% gain in 2 days on Option
This is my 2nd purchase of OII within a week. It had a nice setup, but the industry group is not currently strong. Against better judgment I purchased it, then got stopped out after a $115 loss on one options contract.
Two days later it set up again and I just couldn’t resist. Today I’m up 20% so far…$90 on a $380 purchase. I’m going to set a stop loss on this and wait and see if it goes higher. Whenever I’ve lost money on a companies option, I always like to see if I can make it up later. Nearly break even today, we’ll see what happens tomorrow and over the weekend.
Suzanne @ April 2, 2010