MU Earnings

So I made some money flipping GM puts this morning, I decided to go and buy MU puts with the profits. WIth DRAM prices down significantly since last earnings, I expect their guidance to suck.

As you guys already know, earnings are a crap shoot. Keeping to a small amount on this. Safer play would be to go with April puts on some other chip stock or SMH (sector ETF).

Kommentera:

Crap shoot alright, earnings in line, guidance sucks, DRAM index breaking downwards out of a bear flag, and price up 5% AH, lol. Bet it closes the gap by Friday, winds up sitting at $40 to wipe out all of the options. I broke my own rule and played a crowded game, 50M shares short interest....

With this, I think I'm done playing earnings. Better off trading patterns and indicators than earnings.