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March 21, 2013  Thu 9:22 AM CT

P: SEE CHART GET CHAIN FIND STRATEGIES
As Pandora continues to pull back today, one trader apparently sees limited upside potential for the online radio service in the next six months.

optionMONSTER systems show that 3,583 September 14 calls were sold in one print for the bid price of $1.95. This is fresh activity, as open interest in the strike was just 194 contracts before the session began.

The calls were not tied to any trading in the underlying shares identified by our systems so far today. These options could have been sold naked with an initial bearish bias, but they were more likely sold against an existing long position as a covered call strategy. The latter would be bullish, but only up to the $14 strike price. (See our Education section)

P is down 0.73 percent this morning to $13.58. It closed just above $14 a couple of times last week as it set 52-week highs, which were about double the share price at 52-week lows in November.
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With the growing popularity of the Advantage Point newsletter, we are picking up new members every single day. So, the powers that be have asked me to stray away from our Option Theory and Strategy topics and discuss a couple of topics related to our weekly trade ideas. This week we are going to talk about how to set and execute our stops.

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