Just wanted to post a quick note on BPOP. We entered BPOP jul 3 calls a couple weeks ago @ .30. We have shaved some of the position as it has pushed up in our favor. The daily chart has a nice Bull Flag type pattern and our position is currently trading at 1.20.
I just wanted to point out that the FDIC seized 3 banks in Puerto Rico today. We got into this position on a technical setup and after I noticed massive bullish action being taken via the purchase of Call options. It is offensive sometimes to see how certain people and institutions have access to certain information before the common everyday individual does.
Here is a link to a recent article,
http://finance.yahoo.com/news/Popular-Inc-Assumes-Deposits-bw-1801126839.html?x=0&.v=1
I will continue to hold the position as I think it should see $5 in very short order.
I will continue with my daily posts when I get back next week.
Have a great weekend.
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