CLOSING the 5/3/2012 $CHK Options Action trade - scott

21 oct - if you had done what i mentioned below this apparent loser would have been a small winner.. if you had just put on this trade and done nothing (like no twitter updates) then its a small loss with stock above 20 at opex..you should have been selling front month 20calls every month to further reduce your cost basis..could have done that 3-4 times at least. but will go down in spreadsheet as a loss since no update was provided on-air. spreadsheet

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26sep - been a long time since this one aired, if you took no actions you are sitting on a 75% loss with the Oct call worth about 26cents.. those actions like i suggested below could have been selling additional front month short20calls to keep reducing the cost basis. 3weeks to go to opex

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3may - on tonights fast money, scott has a trade on CHK. i actually like this trade, a low premium way to take a position. here is the video CHK trade . Joe also adds some comments on CHKM.

Buy the June / Oct 20 call calender for $1.00 (sell the June, buy the oct)

i dont follow the stock except for what fast money talks about but what i would have added is that if/when the june call expires worthless (max profit to you), then look to sell a July 20 call.. getting back into a calender again and further reducing the cost basis of the trade, then again for aug and Sep.