DryShips (DRYS) Options Trades
December 2nd, 2009
I wrote DryShips, Inc. (DRYS) Jan 6.00 puts and Jan 7.50 covered calls earlier today. DRYS has been forming a symmetrical triangle for the last few months and all the moving averages have flattened out as seen on the daily chart.
I’ve been able to sell a lot of puts over the last several months on DRYS, but I need to watch this set of options very closely for a breakout as it is nearing the apex of the triangle. I don’t really follow chart patterns in a strict sense – I’m just aware of them. Trend lines and moving averages hold much more importance with my system.
DRYS Hourly
DRYS Daily