February 15, 2019 - MDT Alert (OI)

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.

As you know, the OI long $19 call expires today.

I am going to suggest you place an order to sell the calls at $0.90.

As I write this, OI is trading 10 cents under the strike, so keep the order good till canceled.

If it looks like it is failing, the selling price will not get hit, I will follow up with another alert.

Because we sold long calls against the position, the loss works out to 40 cents per contract.

Also, as a reminder, all markets are closed Monday to observe Presidents Day here in the States.

Finally, RIG has made a push today and is trading just 10 cents under the $9 strike. Hold the calls into the close.

If I suggest an adjustment, I will send a separate email.

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