MRK – if they break $45 we can pick up the $45 calls as a momentum play, currently .80
- $10KP TSO 2 $100 puts – only at $2.05
- that’s still a very risky play with, perhaps $410 (2 contracts).
$44.75 is MRKs retrace line, if they hold that they are probably going higher. It’s a 20% pullback from the $1.30 move from $43.50 to $45 but the 5% rule is $45.65 but I don’t see the overall market strength for it.
UNH – I think if MRK breaks up they will do well so I’m not dying to toss them but once they hit .80 we need to set a stop at .75.
- DD on the AIR Aug $35s for .45
- UNH $55s – I put a sell in at .85
- Picked up ICEDV, the ICE $130s at $2.30 just for a quick mo play
I think $3.20 is a fine spot to get 1/2 out with a .40 TS on the rest – out at EOD
- OIH $145 puts for $2
