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December 18th, 2015 at 1:33 pm
Jabob -You are so right. Not looking to get long unless we get back up above $35 on the cl f6. Even then would wait a day or two to get more aggressive. Still think we could get a tradable squeeze if we move up sharply from this level. But as I said yesterday, it's looking iffy at best.
Meanwhile, I'm looking for January Effect candidates as we near year end. If we look at some of the carnage in some of these natural resource stocks, there should be some strong bounces into January.
Although not a natural resource situation, I think AVP might be an attractive buy/write. Buy stock at $3.92-3.93 and sell the Jan $4 calls for $.35-.40. Better than a 10% return in less than a month if AVP simply moves up a few pennies. More venturesome traders could also sell a few Jan $4 puts for .42-.43 to spice up the trade.