Thursday, May 03, 2012

Buy GNC (sell puts)

Buy GNC via selling Jun 35 puts @38.8
GNC is the vitamin/nutrition store. It is a CANSLIM kind of stock that broke out on good earnings (Wikipedia link explaining CANSLIM). The breakout point is 35, so if assigned it would mean a pull back to the chart base.

Elsewhere, the move down in IWM has flipped my position back to delta positive, or net long. GLD having a bad day. AAPL found some buyers near the 50 day moving average.

Long AMGN BRKB GNC LGF MMM TLT
Net long AAPL AMZN GLD IWM SPY

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