VALE Call Entry

With the UUP sitting on a major resistance level and the material stocks overselling, I am adding VALE calls as a bottom picker play.  This is not a play I would make if I were not playing with profits but it is a play that has the potential to pay off very nicely.

70 Apr 18 calls for 1.00 for a $7000 trade.  Going to April to minimize volatility effects and I am looking for VALE to gap above the 200 day moving average tomorrow.  If it does not move higher quickly, I will likely move out of the trade and wait for less risky setups.




Posted on February 21, 2013, in Jeffs 3k-100k. Bookmark the permalink. Leave a comment.

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