Sell Alert: February 14, 2014

Marcus Haber | February 14, 2014

Sell Alert: February 14, 2014

Trade Details

Sell General Cable (BGC) February $30 Calls for $1.10 or better

Why?

I was planning on holding BGC for a bit longer, but we got another big move today. The stock has broken through the 200-day moving average, but it hasn’t closed above that level. Rather than take a chance of a pullback, let’s sell our calls now. Remember, these options expire next week.

At the current price, we’ll get back the lion’s share of the $1.25 we paid for this trade.