SAN FRANCISCO GAS BLAST FIRE PRESENTS AN OPPORTUNITY
Shares of PG & E Corp. (PCG) have been punished in the wake of gas pipe explosion and fire in San Francisco.
We recommended buying PCG shares. Per the prior post, we sold Sep 45 puts at $1.60. if the stock continues to decline, the option will be exercised and our entry will be at $43.40. With one week left to expiration, if the stock bounces over $45, we will pocket the entire premium. We will add to the position on spikes down.
As we apply the six screens of ZYX Change Method, our analysis shows damage of less than $200 million.… Please click here or the title below to read more.
September 11, 2010