We hold 800 shares with an adjusted cost basis of 5.72, along with eight strangles — 7th Sep 5.0 puts/6.0 calls — for 0.15. I see only brain-deadness in this stock, and therefore the likelihood of the strangle going out worthless. Nor do I have any patience for sticking with the position, especially since my bias remains bearish and calls for an eventual fall to 4.57. Accordingly, I’ll suggest offering the stock, g-t-c, to close for 5.82, effectively scratching our position. If it sells, try to close out the strangle at the same time by offering it @ 0.05, also g-t-c. _____ UPDATE (September 4, 10:03 p.m. EDT): Close out the position today at will. I’ll use the worst price reported in the chat room as my cost basis. _______ UPDATE (Sep 6, 6:13 p.m.): No one in the chat room reported doing the trade, and only one subscriber said he’d held a position, so I’m removing this tout from the home page without comment. The 4.57 target remains viable.
