short/use puts against Citibank into earnings next week

godawgst

For trade only, but the price action on it has been awful the last month.

it acts like a stock where people might have been tipped off as to what is coming when they report.

Could be new CEO kitchen sinking some things, her vision for the company and the time/cost it will take to implement the changes, etc but this stock should be mid 70's not 72 and change.

If I'm right and it goes below 70 day after earnings cover your position, take the win and move on.

Sources

Everything I've read suggests we melt up tomorrow and shit ourselves a little next week. Going short here is likely the right call, but I'd wait until close tomorrow to take a position.

godawgst

Sources said:

Everything I've read suggests we melt up tomorrow and shit ourselves a little next week. Going short here is likely the right call, but I'd wait until close tomorrow to take a position.

Fair on waiting until Monday unless the entry price of the trade tomorrow is worth the weekend risk.

Baseman

godawgst said:

For trade only, but the price action on it has been awful the last month.

it acts like a stock where people might have been tipped off as to what is coming when they report.

Could be new CEO kitchen sinking some things, her vision for the company and the time/cost it will take to implement the changes, etc but this stock should be mid 70's not 72 and change.

If I'm right and it goes below 70 day after earnings cover your position, take the win and move on.

I wouldn't short Citi -- to risky -- you could talk me into a put spread