Tuesday, June 28, 2011

Short CRM - Deja Vu All Over Again

Yes, that is right, CCI is short CRM again. 

CRM has risen back up a few points the past few day and the charts (which seems like the basis for trading in this stock) suggested it might be near the top of its short term range. 

So CCI decided to risk some the profits from prior shorting of this stock to hopefully add to the gain. Shorted the stock at $146.50. Rational the same as before.

Investigated implementing a short position via options. However, it would seem most advantageous to go out until  the August expiration to capture their next earnings announcement, and it seemed a little early to get a good price and IV at this point in time.   So put on the more basic short position with the hope of scalping a small gain now.

No comments:

Post a Comment