OPENTABLE (OPEN) – WHy we trade options

trade-idea

OpenTable I have been playing OpenTable for quite sometime,on the premise of it's brand being so entrenched, that it would continue to be extremely difficult for competition to succeed in the space ( http://www.optionmillionaires.com/opentable-inc-open/ ). Today the company was bought by Priceline Group(PCLN) for $103 a share. Last week I sent out OPEN as our text trade idea, as I thought it would have a nice bump into WWDC, and the chart looked primed for a bounce. Here is the text:

Like $OPEN for a break above $70 - #WWDC conf could be a boost as well - $77.50 calls @ .25 x .30 good rvr -JB 

Here was the tweet via our private feed:     OPEN 6-13-14 a

And here is what I said on the Week Ahead Webinar Sunday June 8th :

OPEN TABLE 6-8-14 from OptionMillionaires on Vimeo.

 

And here was my personal trade : OPEN CALLS 6-13 Those calls at the open should be worth $35, 700 from the initial $280 investment, which was actually bidless and worth ZERO the past few sessions. Why options Rock. Some can say thats pure luck.. but I say luck is when preparation meets opportunity, and in this easy money environment, with some buyout candidates well off their highs, I am sure there are more plays like this coming very soon. Happy Trading!! - JB

Profile photo of jimmybobJimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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