Suncor Inc
Option Trade Blog

Stock: Suncor

Symbol: SU

Option Symbol: SUPO

Reason for Initiation: Uptrending, up by about 80-100 %in 1 year. Coming up from a dip in mid Feb (lowest point 14 Feb) Fractal buy above 28 Days Moving Average.

Action: Short Put (equivalent to long stock)

Details: Put: Strike @75, expiration Apr, Sold on 2nd Mar 06. Bought on 8 Mar 06.

Result: -ve

Reason for Closing: Cutloss.

Comment:

* Trade executed as planned. Though might have cutloss earlier.
* The base which it form during the last dip was relatively short.
* Broader market was coming down. One of those trades that have right set up but did not turn up well.

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