WM- Sell for 10%

[stockbroker]

I'm calling Washington Mutual short to $40 per share by the end of the quarter. (Just to be safe)

The options are $1.50 per share for $42.50 strike puts. I think that its worth a short as the technicals are pointing that way. By April WM will be near $40 per share.

Lets see in April.

 

[Mirage]

Do you own shares? What are they doing right now that is effecting the price?

 

[stockbroker]

Do you own shares? What are they doing right now that is effecting the price?

I'm short with options.

Its nothing fundamental at all. I'm 100% technical trader. I know as little about WM as everyone else.

 

[MenInTights]

Just off the cuff, sounds like a solid call. The housing market has finally cooled off and WM is going to be affected by any downturns in mortgages. Should put a damper on anything financial for the 1st half of the year at least. I think manufacturing and metals are the way to go for the immediate future.

 

[stockbroker]

Down to $42.58 today. Options sitting pretty at 1.85. :lol:

 

[Mirage]

The whole market was down today though. Could rebound over the weekend for Monday's opening. Are you using option trading with WM?

 

[stockbroker]

Im looking for a rebound throughout this week. I've taken my profits of 16% on this trade.