1/28/08
Placed a ratio call backspread on VWM for their earnings after the bell today. Took a bullish bias willing to take 50-100% loss on debit of the trade or close upon initial spike up tomorrow best case for above 100% return.
bot +2 call ratio backspreads 80/85 (-2 80 / +4 85) CALLS for an 0.85 debit. Plan to close by end of week if VMW opens up tomorrow down a little up little or down alot. Will wait to see if stock reverses to my favor to close for less of a loss or small gain. Will not hold past Friday as the Theta and gama risk will intensify going into Feb expiration. Can get into a big loss scenario at that point.
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