BotTrigger Trade Alert - $OSTK Sold our March 20 Strike Calls @ $26.40 for a 120% gain since our $12 entry. Entire allocation of the call.
We are electing to hold our common stock position however as a hedge that this may continue to run higher. In the near-term however, we expect a pullback as we're seeing 2 back to back selling bars here. Today OSTK opened the day @ $44.50...ran up to $46.35 and now is below it's opening price. This is looking more like a bearish inverse hammer candle bar. That along with Friday's big bear candle bar...suggest that we could easily see a near term pullback. If OSTK takes off without us up here...then that's why we have our common stock position. The option calls however are up more than 120% and so we're going to take that money and say thank you. We can always reenter even if that means higher on the next relative pullback. Know when to not overstay your welcome