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VISA (+45%), BUCY (+13%) and More

Published on May 3, 2008

VISA (+45%), BUCY (+13%) and More

May 3, 2008

A recap of the last week’s trade ideas. Firstly, update on VISA (V) earnings-

  • A follow-up on free trade I mentioned here to play VISA earnings, the trade is up +11.6%. If Visa stays up to $88 by May’08 expiration, the returns will be the same. However, if VISA is pinned @ $85 on May expiration, the returns will be maximum i.e. 50% ($260 gains on $515 investment). In any case, don’t let the profits evaporate, so if it continues to move higher, I shall book profits and move on.
  • For OPN, we opened 70/67.5 Bull Put credit spread that wasclosed for +21%, within only 1 day holding period.

visa-intraday-may-2-2008.png VISA and Master card I have been playing almost everyday since they announced earnings. But I didn’t mention here except once. After initial knee-jerk reaction yesterday I played a VISA intra day trade and collected +45.4%. There are a few more trades, but those are different speculative strategies for May expiration.

Last week I also shared few intra day trading opportunities. I selected SPW and CMI and apprised OPN members of my selection out of the list that was on this main website. Speculative strategies are not part of OPN. Some members took advantage of speculative mentions and benefited from it.

bucy-vertical-may-2-2008.png Interestingly, I also shared two stock split plays (BUCY and IVGN) and chose BUCY Bull Put Credit spread (as IVGNs bid/ask spread was too wide) for May cycle itself. Though together with some OPN members, I was able to close it for +13%, some members had to close it for a loss as soon after opening the trade, BUCY dived below $120. I think, it was the right thing to do, close and book loss when one is not sure what’s next. As IVGN fell on Friday, I opened bullish trades on it as well.

Iron man has been released, we are in the game and let’s see what does marvel (MVL) management has to offer before market opens on Monday.

Profitable trading, OP

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