I assiduously avoid market-on-open orders, since they leave the retail customer vulnerable when predators are most easily able to manipulate option prices. However, we should try to buy some March 45 calls (NEMCI) in the 2.60-2.80 range today, provided the underlying stock does not fall below 39.00 (in which case we would bring our bid down commensurately). From a Hidden Pivot perspective, it looks like clear sailing to at least 43.50, a midpoint resistance derived from the daily chart. _______ UPDATE: Newmont was very strong, and so the calls traded no lower than 3.05. Stay tuned as we look for weakness, since the stock is on our short list of buys.
