OPEN OpenTable: Panic in the streets of San Fran

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	Mike Barkett
	Washington, DC User since Nov 2007	56
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Panic in the streets of San Fran

I've covered this stock before with little success, so buyer beware, and as I always say: great service, overpriced stock. OPEN should suffer in the wake of this market crash as people pull back on the spending at nice restaurants. Quick coverage to match a real-life short. I've been wrong about OPEN stock before, so confidence 3.

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What People Are Saying...

David Sachdev said at 8/4/11 2:26 PM Price action was $61.96 -3.12 (-4.8%)

Personally I'm hoping this coverage marks the end of the selloff, and everything moves up from here :)

I've never been able to trade OPEN successfully, so I'm staying away!

Josh Warner-Burke said at 8/4/11 3:48 PM Price action was $62.05 -3.03 (-4.7%)

This was triggered by me reminding Mike of a conversation we had had about 3 months ago, talking about possible shorts, where he suggested OPEN then. At $110. Just hours later it fell below 100 and if puts had been bought, a fortune would have been made. Imagine if you had bought long term puts...

David Sachdev said at 8/5/11 10:55 AM Price action was $63.20 1.92 (+3.1%)

Of course the Think or Swim Shadow Trader radio is saying that OPEN has a gap to fill up, and to look carefully for it to fill an move up in the next few days.

This is one stock that has little to do with fundamentals, and more to do with trading patterns.

Larry Leviton agreed at 8/6/11 1:35 PM Price action was $62.05 0.77 (+1.3%)

Larry Leviton went neutral at 8/6/11 1:36 PM Price action was $62.05 0.77 (+1.3%)

I wasn't aware that gaps get filled in a down trend. Personally I think that on line restaurant reservations are a stupid idea.

Larry Leviton agreed at 8/6/11 1:36 PM Price action was $62.05 0.77 (+1.3%)

David Sachdev said at 8/10/11 10:17 AM Price action was $63.93 3.61 (+6.0%)

Kills me to keep hearing "OPEN is the only one of the leadership stocks up today"

Mike Barkett said at 8/18/11 9:55 AM Price action was $57.84 -3.71 (-6.0%)

watch as the support gets tested, and then blasted through...

David Sachdev said at 9/8/11 1:22 PM Price action was $57.75 -4.98 (-7.9%)

While I see this more as a LivingSocial and a Groupon play, some are siting this more as competition to Yelp and OpenTable

http://finance.yahoo.com/news/Google-buys-Zagat-in-local-rb-1057776988.html...

Mike Barkett said at 9/9/11 2:36 PM Price action was $54.87 -2.63 (-4.6%)

Amazing what time value can do in a market like this. If I had just shorted it I'd be up 13% but since I went the put route I'm struggling to break even.

David Sachdev said at 9/9/11 3:39 PM Price action was $54.98 -2.52 (-4.4%)

The high volatility has a huge impact on the Theta value of the options. I haven't been trading options at all the last month.

One of the reasons for my question on trading the VIX directly versus a put/call.

Mike Barkett said at 9/12/11 3:02 PM Price action was $53.57 -1.67 (-3.0%)

close enough

David Sachdev said at 11/3/11 4:05 PM Price action was $41.79 3.52 (+9.2%)

Anyone get a an get OPEN play in over the last week? I considered the bounce this morning, but had my money elsewhere. And since in the long run, I don't like this company's general valuation, I don't trust a bounce.