ABAXing Up

ABAX is progressing nicely trying this morning to break the $47.00 barrier for a third time which probably will do it as the stock seems to be gaining momentum for yet another run up on its way to our 5% gain goal. The $45 April Call option is also up nicely again this morning to $2.50 on the ask and $2.35 just now on the bid price. So for each option contract you are up $75. Not bad on a $160 investment! Above is a chart this morning of ABAX courtesy of BigCharts.com. If this isn't fun what is?

I just checked ABAX again and now the stock's up above $47.00 so it made it through the dollar barrier. That is always a struggle to get through those even dollar levels. The $45 April Call is up to $2.55 on the bid price and $3.00 on the ask. Another 20 cents and the Call will have doubled in price.

One thing I might mention here is be careful when you are playing options. Don't put all your money down on a trade. You could lose it all. Always keep some in reserve so you can make another couple of plays just in case you hit a losing streak and lose a couple of times. Hopefully the third time will be a success and you will be back in business. No strategy is successful all of the time and according to Gary B. Smith this one is successful 8 out of 10 times. So be ready for the two losers to come along in the normal course of events.