Option Investor
Newsletter

REMINDER - ALL BETS OFF - CANCEL BPHX & REGN

HAVING TROUBLE PRINTING?
Printer friendly version

REMINDER: Cancel REGN and BPHX


We are rescinding the two recommendations on BPHX and REGN put writes made earlier today. The world economic markets got hit a little too much for my taste. We can always look for plays later in the week. The Dow Jones Industrial Average futures contract was recently off 520 points at 11,586, the Nasdaq futures were at 1773.25, down 76.25, and the Standard & Poor's 500 futures recently were at 1265, down 60.3.

In addition the Asian markets were all down with India down over 11%
Europe followed, Canada, Australia as well

Even after 9/11 the market dropped only 370 points.

So please cancel the BPHX and REGN put writes if you have placed them for the opening. If you have not please ignore the lastest recommendation on BPHX and REGN put writes


We are cancelling the following specific put writes.

BPHX 19.70
SELL FEB 15 PUT =
QBM-NC - CANCELL
Target Price $25.00

REGN $24.60
SELL FEB 20.00 PUT =
RQP-ND - CANCELL
Target Price $25.00

We can look for a potentially better time to enter positions than tomorrow's opening.

Tomorrow's opening looks very bad! Let's stay out of harms way. We can always put on two other positions or these positions later in the week if we desire at better prices. The worse that happens is the market stablizes and we can stilol go back in a day or two with recommendations

ALL SUBCRIBERS: CANCEL the BPHX an REGN.

Brace in for a potentially nasty OPENING. I may be over reacting, but it is still better to see what tomorrow may bring and we group later


Option Writers Newsletter Archives