Sell to Open ENER December 14 Calls
November 6th, 2009
I sold to open some December 14 calls on my ENER position. ENER is stuck in a wedge between $10 and $14 and all the moving averages have pretty much flattened out. I’m still short the December 12 puts I sold a few weeks ago. There is a lot of supply in the $12 and $13.50 areas that it will need to overcome first. This trade converts it to a short strangle (covered).
ENER Hourly