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Friday, December 7, 2012

Canada approves Nexen and Progress

Thank goodness I didn't buy Nexen put options ahead of the announcement. Was thinking about it because had serious doubts about the deal. Missed completely the price volatility between 3:20 to 3:30 before the stock triggered the circuit breakers. Maybe next week Encana will benefit from this news.

Sold a Lorillard Jan $125 call. Wanted to sell a McDonalds call too but missed the desired price, and then the stock kept slipping into the close.

Had kept an eye on Harry Winston. Despite reporting disappointing numbers and a poor outlook, the stock held tight. It must be the background noise about the divestiture of the luxury division. I will look to sell some calls on this.

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