7/20/12 - Cha-CHING!!  Massive winner here!!!

Here is what you could have made on this trade:

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7/19/12 - Wow, nice drop in after hours trading. CMG came up short on revenue which is a disaster for upside potential. The selling will continue on this one over the next couple of weeks to months. Questions is, will it continue tomorrow so my puts can make a HUGE profit!

Here are my trades:

It's looking very good for a big fat profit tomorrow on the Puts!

Today CMG reports earnings after the bell. Lately there has been a lot of negative press on this stock from the guru's out there. Most are saying its over bought and to short it. The chats are telling me that is the case; however, when I hear that much ranting, I generally do the opposite. If they beat by a wide margin, you can be sure there will be a lot of short covering. The biggest challenge is the huge bear elephant bar from two weeks back. This always tells you big time hedge funds dumped the stock because they are the only ones who can make a stock move that much. As you can see below the 200MA pegs the stock at $375 so I will look at puts just above that. I am going to buy my usual lotto trades and will also pick a contract for next month. There is a lot of volume on the weekly 375 Puts as well as the 425 Calls.