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August 8th, 2007 at 3:26 am
SBUX – how can I add anything to Phil’s detailed analysis! BillBigD as Phil pointed out the big challenge with the trade is evaluating the contingency should something go wrong and having more time is always going to yield easier trade modifications. In general I like those plays a lot…you still have a reasonable time remaining before expiration so personally I would be surprised if it didn’t do well. Although a correction may occur short-term the likelihood of it lasting thru to 08 and causing the position to lose overall is improbable in my view.
China – agreed! If things really do get ugly Paulson should perform some hocus pocus and save us!