ITMN Results and the Video of Me Explaining the Trade

• stevenplace
• March 5th, 2010

FDA briefing came out positive for Intermune, or something like that.

I’ve been talking about this trade for a few weeks now, noting the very bullish options activity that’s been going on in the name.

I chose Covered calls, buying common and selling the 12.5 calls– the stock’s now at 25-ish. Will exit or roll to a collar.

In this video interview with@howardlindzon, I talk about the trade and my expectations for the move. It shows a little insight on how I structure my risk given the current volatility of the underlying. The talk starts at 16:00 in.

Also, this was a trade for my subscribers, you should join up if you want to learn how to trade options.

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