TRADE IDEA: RAD APRIL 21ST 6 LONG CALLS
Updated
I do these lotto trades once in a while ... .
I won't take credit for it, and I'm not the only "genius" who's thought of it given open interest in the March, April 6 and 7 calls ... .
Here's the low-down, courtesy of Motley Fool: fool.com/investing/2017/02/21/the-clock-is-ticking-to-profit-from-rite-aid-stock.aspx
Because I'm paying a debit for this up front (the mid price for the April 21st 6 call is currently .37), I'll need price to finish above 6.37 to make any money ... . If you're more of a gambling sort, consider the 7 calls; they're going for .04 at the mid ... .
I won't take credit for it, and I'm not the only "genius" who's thought of it given open interest in the March, April 6 and 7 calls ... .
Here's the low-down, courtesy of Motley Fool: fool.com/investing/2017/02/21/the-clock-is-ticking-to-profit-from-rite-aid-stock.aspx
Because I'm paying a debit for this up front (the mid price for the April 21st 6 call is currently .37), I'll need price to finish above 6.37 to make any money ... . If you're more of a gambling sort, consider the 7 calls; they're going for .04 at the mid ... .
Note
Expiring worthless. Oh, well. So goes lotto ... .
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