Oversold Buy (blocked by Money Flow Buy) signal on $SJM. Earnings aren't until late August, and all trading conditions met my rules for entry yesterday. See previous blog posts for details about the Oversold Buy strategy and how we're trading. I bought an in-the-money long dated call option, and plan to exit in a month. The short term trend is pretty steep, so I may sell an out of the money call option if price moves into Overbought quickly in order to reduce cost basis. This is a discretionary move that's not part of my current rules, but maybe it should be. BOT +1 SJM 100 21 OCT 16 145 CALL @10.15 CBOE.
RSS Feed