April 26, 2019 - MDT Alert (RIG)

While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to the six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three-day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.

I do want to make one more suggestion today. And that is on the RIG position.

My suggestion will be to close the short $9.50 call on RIG.

Buy to Close the May 3rd - $9.50 call for 10 cents.

This will result in a profit of $.32 per option or 76% of the amount they were sold for.

This will allow you to sell more calls on a bounce.

This alert only applies to you if own the stock and sold the calls.

I inadvertently reported the wrong gain on the CNC calls.

The overall gain was $480 on a 6 lot and not $450 as I had in the alert. Sorry for any confusion.

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