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Friday, March 29, 2024

Comment by phil

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  1. phil

    Another big up day for the markets and only IBM is holding down the Dow.  

    Dollar up to 79.92 has got the Nikkei back over 14,500, oil still $103.37.  VIX is down to 13.19.  I think we should just short it every time it's over 17 – it never lasts more than a day!  

    Gold officially failing $1,300 now (by $6) and silver back to $19.58, but we had our fun.  Copper $3.05 (go FCX!), nat gas $4.74 and gasoline $3.05 even.  

    CMG is raising prices and the stock is bouncing off $522, now $533 and the May $525/550 bull call spread is $12.50 so 100% upside of CMG makes it to $550 (and holds) and, if not, you can sell 2016 $280 puts for $10 to pay for it, stop the spread at $7.50 and your worst case is owning CMG for net $275.  TOS says $29 of ordinary margin to make $12.50 in 29 days – not a bad deal…



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