Office Depot 13% up on fancy new investor. Ha! I'll take some of that on the way back down.

This morning Office Depot popped 13% on the news that a fancy news investor bought 13% of the company and he believes the company can be better than it is. When something like this happens I am looking at the options to see which ones are getting killed. I found a $4 PUT option that lost 31% of its value on the move this morning. Bought 6 contracts to catch it on the way back.

Now, Office Depot may very well be on its way up to a long term gain. But in the short term it is not going to
hold and I'm going to get some of that 31% back in the next few days.

I'll let you know how it goes!

Thanks for reading!

Straight from the Chart 

Disclaimer:

Just to be clear, nothing that I'm posting on this blog is in any way advice that should be followed by anyone else. All investment decisions should be made carefully by all individuals taking into account their own financial situation and appropriate levels of risk. Do not take anything I say for anything more than it is, opinion, speculation, and woefully undereducated guesses as to how I think a few stocks are going to perform.