Goldcorp Sprints Ahead of Gold

After falling as much as 15% this year, Goldcorp (GG), my favorite way to trade gold, has shot up 20%. The move through February was almost a straight line and the stock moved particularly strongly last week. *Chart created using TeleChart: While I sold the last of my trading positions in GG last week, this … Read more

My Biggest Whiff for the Year: Goldman Sachs

Just thinking about writing this piece makes me cringe. After celebrating gold’s fresh 18-month highs yesterday, it occurred to me that I need to review my biggest whiff of this year: Goldman Sachs (GS), affectionately called “Government Sachs.” I could just as easily call this one “how I missed out on at least 900% returns.” … Read more

As WYNN tumbles from consolidation pattern, strangle trade remains flatlined

Schaeffer’s Investment Research is reporting today that the Macau IPO for Wynn Resorts, Limited (WYNN) has been meet with heavy put buying the past two days. October 65 puts were popular yesterday and the bearish trading has extended to the 60 strike today. The option strangle trade I outlined last week on WYNN uses the … Read more

Options Traders in ReneSola Switch from Calls to Puts

It seems traders in ReneSola (SOL) are moving one step too slowly. Options traders loaded up on Oct 7.5 calls earlier this month, only to be greeted with last week’s news that SOL’s revenues would come in a little light based on weaker than expected pricing. SOL also announced a fresh offering of 14.4M in … Read more

Strangle Options Play in WYNN

Casino stocks have soared since the July market lows. September in particular has featured some near parabolic moves as shorts get squeezed and risk-seeking behavior has accelerated. Wynn Resorts Ltd. (WYNN) has caught my attention the past two months because its large swings in stock price have made option strangles quite profitable. In a strangle, … Read more

MEMC Electronic Materials Soars On Takeover Speculation

Last week, I noted heavy call activity in MEMC Electronic Materials (WFR) that was notable enough to lure me into buying. Today, WFR continued its impressive recovery from an earnings warning with an 8% one-day pop giving it a 17% run since the close following warning. attributed today’s trading to takeover speculation. Whatever the … Read more

MEMC Electronic Materials Quickly Recovers from Earnings Warning

Two days ago, MEMC Electronic Materials (WFR) issued a late earnings warning stating that it “…experienced a disruption in production at its polysilicon facility in Pasadena, Texas due to an equipment failure on August 7, 2009, requiring a large portion of the facility to be shut-down…The lost production and related costs are expected to negatively … Read more