While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
VRX, along with a lot of the pharmaceuticals are getting a nice push today.
VRX is up over 10% and is trading around $15.14 as I write this.
I would like to take this as an opportunity to collect some call premium.
My suggestion today is to Sell to Open (1) June 30th $16.50 call for every 100 shares you own.
The June 30 - $16.50 calls can be sold for 30 cents.
The stock appears a bit overbought short term. If we get a pullback, I will add to this position.
