Frontline - Closed Out

As mentioned earlier today, I anticipate a drop in the stock tomorrow of approximately $2-3 per share in Frontline. As a result I closed out my trade today at $46.80 for a small profit. Please see below p and l chart:


This was a small profit and I am not sure if it was worth the risk experienced. The tanker stocks are extremely volatile and I have lost my share of money in them before. If the stock is down less than $2.00 tomorrow and follows through to the upside in the following day I will have been proved wrong and this was one to stay in. I think I will be able to purchase it the day after tomorrow for below $43 - maybe at that time I will reconsider at a better value.

Here is the entry and exit chart:

-BG