GCO update

We skip GCO unless there is a gap fade later in the next two hours...it just fell 1% at open. Unless it comes back, we do nothing.

If it does wander back up, purchase the 80 dec puts.

GCO Dec 2014 80.000 put (GCO141220P00080000)

 -OPR  Watchlist

2.40 0.00(0.00%) Dec 3

Prev Close:	2.40
Open:	2.70
Bid:	0.20
Ask:	3.30
Strike:	80.00
Expire Date:	20-Dec-14

Day's Range:	2.40 - 2.70
Contract Range:	N/A - N/A
Volume:	30
Open Interest:	172

So to reiterate, if the bid and the ask above comes on down enough, so that you can get in this option at about 2.30-2.40, go ahead and purchase. if the bid and the ask remain high do nothing. As you can see above, the spread is a bit wide and undefined. Wait until things get a little clearer...if the stock fades back and comes back close to the price of 81 get in with the put. Other than that, we missed the train. It just plain opened too low. We will watch this during the day.

Mark