(UPDATE BELOW)
The Facebook IPO debacle has made the bears hungrier than ever. PUT buyers have been frenzied over FB options since they opened for trade,but today, for the first time we are seeing some honest to goodness call buying. I joined in buying next weeks $29 calls for $.35. In my view FB is setting up for a wonderful relief rally.
While everyone is laughing at the FB IPO, I have a good feeling I'll be laughing to the bank with my FB calls. Playing against the crowd has made me money in the past, and I think I'll be just fine with my FB calls
The stock has been tormented, left for dead, scorned, laughed at, and worst of all un-liked! What a Perfect buying opportunity.
From Faceplant to Facerocket!! I like like like like this stock here.
UPDATE:
FB soared into the close. FACEROCKET. The $29 calls mentioned above closed at $1.40 x $1.50 from $.35.
