Taking Profits In OpenTable (OPEN) Short

Taking Profits In OpenTable (OPEN) Short

On May 4th OpenTable (OPEN) offered us a great opportunity for a classic 'short calls' Bucket 3 strategy after the stock dropped hard due to earnings.  As expected the stock never saw the pre-earnings levels again and the calls that we sold are now worth...
Open Table (OPEN) Option Trade

Open Table (OPEN) Option Trade

After announcing earnings last night, as well as the departure of their current CEO/President, the stock is getting punished today…currently down about 14% on the day.  The stock rose almost 400% from the beginning of 2010 to just last week and sports a...
Open Table (OPEN) Defined Risk For A Short

Open Table (OPEN) Defined Risk For A Short

Yesterday I blogged about OPEN's weak price action (http://steadytrader.wpengine.com/short-opportunity-in-open-table-open/).   While there is support at the $103 mark, yesterday's sell-off left an ugly looking outside (engulfing candlestick) bar.  I...