I made a play with Dicks Sporting Goods between Monday and Tuesday. Of course It was a high risk spec trade, I didn't think DKS was going to pull through on earnings. News reports came out the last couple of trading days of DKS being under investigation for securities fraud. Combine this with the fact that retail hasn't been doing well, and I certainly didn't imagine DKS having a good earnings report partially due to the fact that customers aren't buying weapons etc nearly as much because Obama is out of office, and the demand has gone south. Sure enough, I was correct on this one
Perfect
Netted about $1500 in under 24 hours. I bought 40 contracts of a PUT spread. I was debating buying more, but this was a riskier play and could have easily gone the other way - I didn't want to overdo it.
Hey, I'm happy for waking up in my hotel room this morning on vacation sipping coffee and clicking the button to make $1500! A nice way to wrap up my little vaycay and head home.
I've never been so satisfied for playing with dicks!
Originally Posted by Gordman
I made a play with Dicks Sporting Goods between Monday and Tuesday. Of course It was a high risk spec trade, I didn't think DKS was going to pull through on earnings. News reports came out the last couple of trading days of DKS being under investigation for securities fraud. Combine this with the fact that retail hasn't been doing well, and I certainly didn't imagine DKS having a good earnings report partially due to the fact that customers aren't buying weapons etc nearly as much because Obama is out of office, and the demand has gone south. Sure enough, I was correct on this one
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