Monday, November 9, 2009

Passing on RIMM, BAC

I'm passing on RIMM and BAC.

RIMM, because the activity appears to be in reaction to rumors of a MSFT takeover bid. If the rumors are out there, the chances are already priced in, and if the companies deny the talk, then we're looking for a fall. Also, at these levels RIMM options are trading at a $5 interval between strike prices. I prefer $1 intervals.

BAC, because it's already trading at near-term resistance. That lowers my odds of success.

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