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.
I am certain that ASNA is selling off today because of the dismal report on Men's Warehouse, which is down about 40% today.
However, there is still value left in the $14 calls that expire this month.
And my suggestion is to Sell to Open (1) November $14 call for every 100 shares you own.
They are quoted at $.40 to $.50.
Try and sell them for $.45.? You can always lower the bid to 40 cents.
These calls expire in two weeks and reaping almost 22 cents per share per deal is a decent deal.
