I've got a watch on CPSL. With earnings postponed until October, there was a mild sell off, and prices returned to last week's average. This looks like normal behavior for CPSL. People who normally don't trade the stock, see the news--jump in only to find the water not to their liking, and jump right back out.
My price target is 4.05, which looks like a prior low support. If it breaks below, I am going to wait to buy, but if it tests that low support once, maybe twice I am looking to buy a few hundred more shares. My strategy continues to write covered calls on the stock, and I haven't seen any reason to alter that. Implied volatility remains high, and premiums are still large enough.
Posts
