Taking Some Action

Today is typical. If I look at my watch list, I would think we are having a pretty good-size down day. We're seeing support come from the energy sector, which is a small change of character while the momentum names are taking a bit of a rest. This move has triggered actions for me in a few of my overnight plays as well as in one of my long plays.

From the longer-term side, the United States Oil Fund (USO) has hit my $36 target. I have closed out my January 17 $34 calls by simply shorting the stock against the position. The calls are basically trading at intrinsic value against my $1.15 entry. I was able to short at my target of $36, so my worst case is grossing $2 per contract....330 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.