Wednesday, January 18, 2012

ANR Call Spread - Never mind

This recent post described a 1x 2, $23/$25 call ratio spread CCI established on  ANR.  CCI  thought that ANR might be ready to rise and this trade could help the position recover.  Unfortunately,  ANR did not cooperate and retreated back below  $20.  This move seemed to mean it would take too large of a move for this trade to work out, so CCI took off this trade for a few penny, non-material gain.  If the stock moves up we may look to put it back on when it has a higher chance of success.

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