The last we addressed ORCL was at August expiration, where we were considering rolling over our Aug 15th ORCL $240C. The instructions were, "Await next breakout > $260" Well, that finally happened yesterday after ORCL released earnings. After the close of trading, as the shares popped from $241 to over $300 in frantic after-hours trading. This morning ORCL is trading at $340. Needless to say, a new strategy needs to be devised, we don't want to chase. We did however close out that June 30th ORCL Buy Signal with over a 200% gain on the recommended August 15th $240C, so all was not lost on the trade. Nonetheless, had we gone out just one expiration month later, buying Sep expiration instead of August, the trade would be up over 1,000% this morning (see analysis beneath chart). Should have, could have, would have.... ORCL From Aug 12th Rollover Update: ORCL June 30th Buy Signal - Using Sep Expiration. Buy the Sep 19th $240C @ $8.90 Current (Sep 10) = $100 = +1,023% Bottom Line: We got the stock and price pattern right back on June 30th, we only missed one of our best gains in two years by a single expiration month. Think about it!
