UA Under Armour: Reflecting a real trade on a nonexistent coverage

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	Mike Barkett
	Washington, DC User since Nov 2007	52
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Reflecting a real trade on a nonexistent coverage

I should have covered UA long when I bought it at 33.50. Today I sold at 45, with every intention of buying back in -- hopefully lower -- down the road. Very glad to take the quick profits either way. I've been reluctant to cover it long for no other reason than because I want to write a mini-novel on it and haven't had the time. I think this is a great stock and it's headed to 120+ some day. However, Josh pointed out recently that the October ITM call options have virtually no time value, which in my experiences has been a bad omen. I suspect we're seeing resistance around 45 and will pull back a bit before things go back up.

Low confidence and low ambition because I hate to bet against UA, but trying to reflect the real world trade.

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What People Are Saying...

Josh Warner-Burke said at 10/2/10 11:15 AM Price action was $45.05 0.01 (+0.0%)

We're on the same page here, my larger $39 October call position was sold with the stock around 45.60 on Thursday. But I still hold $44 and $45 calls and will let them ride a little longer.