Sell
LGF Dec 42 calls
LionsGate
Entertainment has Enders Game opening this weekend and Catching Fire
on 11/22, so this a roll of the dice. A short strangle is a bet on a
trading range. With the movie releases, option volatility is up.
Long
AMGN APC BA BRKB FDX GDX IWM IYR
Long
KORS NKE NSC WHR XOP XRT
Net
long GLD LGF SPY
/edit to add: Early report is $28 million for the opening weekend for Enders Game. One estimate was $25 to $30 million, so right in the range is what a strangle seller hopes for. We will see if the stock moves on the news.
Again a reminder, that I will be reporting trades way after the close for the next two months because of limited computer access.
/edit to add: Early report is $28 million for the opening weekend for Enders Game. One estimate was $25 to $30 million, so right in the range is what a strangle seller hopes for. We will see if the stock moves on the news.
Again a reminder, that I will be reporting trades way after the close for the next two months because of limited computer access.
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