The shares are halted and in the pre-open market, those were down by 56% to $1.42. I think this has to with the news in WSJ Online that just few hrs back I had referred in previous post. I am waiting for it to open so I can sell my puts and be rewarded for being ahead of market. Now there is really not much left and I will not try to squeeze last dollar from NEW’s fall.
Read the full news about NEW in the market watch here.
Other good adjustment was converting bullish position of MER into bear call spread. Read details here.
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Profitable trading, OptionPundit