Seems like Sasol SSL chart became very compressed, also daily volume has been going on for last 12 days below 5 million shares a day, even on a days when stock lost more than 12% and went below $4.00 a share.
I think, SSL will start to move up pretty soon.
I am long another 10 contracts on June 19th @$7.50 at $10 per contract for total $100.
SSL Sasol started to move up and closed above $5.00 for third day straight..... though, I don't know if there will be enough time for it to move into my money territory above $7.50 per share....and later expiration dates are quite expensive.
ReplyDeleteYesterday June 3rd Wednesday, SSL went above $7.5 a share and I cashed out my June 19th $7.5 calls for $75 per contract.......... nice profit, bought for $10 and sold for $75 .
ReplyDeleteI switched to June 5th puts on AIG and ADM because they seems like to be overbought and puts 2 days away were cheap.... Lets hope whole market will pull back today
I lost on earlier mentioned AMD and AIG puts.....Sasol moved unexpectedly to above $11 a share in mad rush of new longs not wanting to be left behind and shorts suffering from squeeze , but this is about all SSL will be able to achieve for now, price wise , it has to pull back to close those gaps, at least most of them....one at $8.50, other one at $7.2 and $6.50....other gap is at $5.5, but I doubt that SSL will go that low, unless it misses Q big time and overall market is in retreat .....
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