Great Trade from an IWO Subscriber

• stevenplace
• January 11th, 2010

With the recent pullback in some energy names one of my subscribers took profits on a name that was put out nearly a month ago.

CHK was a trade idea that I put out there that I completely botched. My stop loss was way to tight given the volatility, but some of my subscribers kept their stops a little wider– and they were rewarded with a nice gap up the following day.

Well if you haven’t seen a chart of CHK lately, here’s that occurred:

One of the great things about options is that once your contract goes in the money, it starts to mimic stock and you no longer have any risk of time decay. You can then become more patient and let the uptrend continue.

@krishope’s patience paid off, and I got this tweet this morning:

Great to see traders taking advantage of my service! If you’re interested, you can join here.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tickers: chk

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