Facebook (FB) Quicklook - 3 Jul 12

<ul>
<li>Decided to get off my bum and make a move today</li>
<li>Sold 10 Aug $35/40 Bear Vertical Calls today for $75/contract</li>
<li>Profit Potential of $750 / Loss Potential of $4,250</li>
<li>I don't see this POS getting bullish anytime soon with technical resistance, low volume, a high P/E&nbsp; and limited ways to improve the EPS</li>
<li><a href="http://www.clownbytes.com/2012/05/16/facebook-options-begin-may-29/" target="_blank" title="Initial Thoughts">Previous Thoughts</a></li>
</ul>
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<a href="http://www.clownbytes.com/wp-content/uploads/2012/07/FB-3_Jul_12.jpg"><img alt="" class="alignleft size-large wp-image-789" height="326" src="http://www.clownbytes.com/wp-content/uploads/2012/07/FB-3_Jul_12-1024x548.jpg" title="FB-3_Jul_12" width="610" /></a>

Facebook Options Begin Trading on May 29

If everything goes well, I'll be able to start my synthetic shorts of Facebook on May 29 (This is sooner than normal for a company going public)

• As I predicted Facebook shares fell flat on their debut

The Chicago Board Options Exchange will start listing option contracts May 29 The exchange typically waits a month or more before offering these options, but investor interest in the social media giant accelerated that timetable More Recent News/Trade