karennma
8,057 posts
msg #81543
- Ignore karennma
modified |
10/22/2009 10:14:55 AM
at the close.
Gapped up $4 at the open!!
Who doesn't like Chipotle?
:>)
|
karennma
8,057 posts
msg #81638
- Ignore karennma |
10/23/2009 3:32:24 PM
OMG!!
We missed CMG yesterday!!
UP HUGE!!
|
Kevin_in_GA
4,599 posts
msg #81640
- Ignore Kevin_in_GA
modified |
10/23/2009 3:51:33 PM
Down even huger today, though.
Given the big drop today, what is the best approach to trading this?
1. Play the current momentum with Nov 85.00 puts (currently up 114% at 5.10) expecting it to drop further.
2. Fade the gap with Nov 85.00 calls (currently down 73% at 1.70) expecting it to rebound.
After the big move up in earnings, I would have faded the gap if I were paying attention. Now with that gap more than filled, not so sure what the better play might be.
|
chetron
2,817 posts
msg #81643
- Ignore chetron |
10/23/2009 4:23:14 PM
i don't like Chipotle, sorry = )
|
Kevin_in_GA
4,599 posts
msg #81655
- Ignore Kevin_in_GA
modified |
10/23/2009 5:30:10 PM
Two days ago CMG was below the lower Bollinger Bands(16,2.5) ahead of its earnings announcement - a signal that a rebound is probable.
The next day it exploded.
Today it is once again below the lower BB - unless the stock futures are horrendous for Monday, I would go long the this one at the open.
BIG unfilled gap today. The last unfilled gap was on 8/14, and it was also a gap down. It was filled on 8/20. But the gap was small compared to today.
|