ET - E*Trade

A few nights back we talked about E*Trade and the Dec22-1/2 calls and the risk/reward. There's been much reward since that discussion. The company gave strong guidance and also announced that it will be moving its share listing back to the Nasdaq. One of the factors that had me on the positive side was that ET was fresh out of a 2 day conference sponsored by Gold-mine Sachs where they had positive things to say. It just seemed unlikely that ET would woo the folks one day, then disappoint the next. At one point the options traded for double our discussed entry point. We bounced in and out and reaped a 42% gain, but were too skittish to hold for more than a half a trading day so close to expiration. No guts, no glory.