PVG - Update on Call Trade

Written by MrStockFox. Posted in Trade Ideas

You can view my last series of posts on this trade located here.

PVG has played out exactly as expected so far.  At T1 I wrote 21 calls and since bought back 16 of those calls for an average gain of around 35%.   PVG has been holding support very nicely around 6.25 which also coinsides with the 50 and 200 ma.  Should we move higher I believe the odds are good that we breakout above 7.50 this time around and head towards 8.50.  Around the 8.50 level I plan to write more calls against my current position of 3100 shares in PVG.

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