This morning I picked up 1900 shares of Expedia (EXPE) at $19.75 and as I write this post it has dropped to $19.35 but I’m not concerned. I researched this little gem last night and I am fairly bullish on this stock. My original intent in purchasing this morning was to sell the May 06 20 calls (was trading at $1) for a quick $1900 in profit (5% return in a week!) but the stock drop meant my options didn’t get bought so I’ll hold on to see what happens after the earnings call this afternoon.

Update: What a wild ride! I ended up selling 19 contracts for May 06 20 calls at $0.95 close to the end of the trading day. That yielded me a profit of 4.8% ($1805 sans commissions). Now for the bad news, the stock dropped 18% in after-hours trading because Expedia missed forecast by 6 cents. The positive here is that I can buy back these options cheap and sell them again. I am still bullish on Expedia however so we’ll see what happens tomorrow!