sun 5-10-07: Trade Update

The SUN trade is looking really good. It is following the seasonals charts perfectly.
I had choose a butterfly strategy to mimize risk and also because volatility was high. The strategy cost $90/butterfly.  Only 8 more days to expiration so we will wait till Wednesday to evaluate what to do before next Friday.
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I am looking for the stock to reach between .886 and 1.27 by expiration Friday.  On expiration Friday, we will evaluate entering another possible bearish trade since the seasonal charts show the trend lasting until 5/28 and 6/28.
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About the Author Manesh Patel