Amazing what a downgrade will do to a momentum stock.

Fuel Systems (FSYS) was downgraded before the open and knocked for a -2.05 loss that tagged our stop loss at 36.25 on the opening drop. The October $45 put opened at 7.77 then rose to 8.20, 8.40 then spiked to 9.80.

The stop was hit on the opening drop in the first five minutes of trading but the option price was slow to react. I would love to claim the opening print at 7.77 as our exit but I was not sitting in front of my PC when it happened. If you were in this trade and were stopped out automatically when FSYS hit $36.25 please email me your exit price. I want to post the real exit rather than what the quote screen is telling me. Your stop had to be automatic to count.

Normally I am watching when the stops trigger but I missed this one.

With Friday triple witch and futures down tonight I am not adding any plays for Thursday.

Jim Brown