9/6/17 Saving J.C. Penney (JCP) from bankruptcy, part 2
Part 2 in my series about my attempt to save JCP from a bankruptcy filing. Part 1 can be found here:
On the run from the low where I initiated my long position that generated a 50% gain via JCP call options, teh high for that move was 3.97. JCP then confirmed that high with a move thru $4 last week. It is now attacking 3.97 and actually pushing thru it. Getting ready to signal a new short term sell so we will see if a new 52 week low is generated in the coming weeks. Sell signal not quite in yet but I will log the $4 price as the sell numba.
9/6/17 12:30 PM: Sell signal now triggered in JCP as it trades at 4.05. I wouldn't consider a personal short unless it traded to next major resistance at 4.50. But I will log in an options trade here via the Oct 20 expiry $4 puts at the current .29 market price.
where did you go?? JCP on the way to bankruptcy