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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: wilywilly who wrote (5167)	5/11/2011 12:56:53 PM
From: ValueGuy	Read Replies (2) of 5205

ARS As you may know, EBIX stock price reached a high of 30.35 before an article came out in SA: seekingalpha.com Goes on for two other parts! Anyway, the stock price collapsed to about $21/22...and the company seemed to have dispelled some of the claims presented by Copperfield Research.... Thought I saw good momentum saw bought in at 22.78 and 23.29. At the same time bought Jun 23 Call and sold sep 21 Call. When the stock price went down to 23 I got jittery so I bought some June 23 Puts (and now this is the only profitable play I have on this damn company!)....got frustrated (an understatement!) with what happened yesterday (stock dropped 10% on positive earnings report!) so trying to sell Sep 21 Calls for 2.40...we'll see...Have lost quite a bit on this company...and the numbers I've seen are fantastic (though maybe claims of fraud are correct? Who knows...) so could not bring myself to pull the trigger and incur a 10% loss...only time will tell I'm afraid....best of luck with the puts

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