Well, after much thinking and last minute shuffling, here are my G&K option trades for today:
Sold half my QCOM common
With proceeds, bought Jan 02 180 Qualcomm leap calls
Bought Qualcomm Feb 00 150 Qualcomm puts, as a hedge against my remaining common
Sold my HHH, bought AOL Jan 02 90 leaps instead
So my portfolio currently is loaded with QCOM and AOL call leaps, GMST May calls (probably will change them to August), and QCOM short term puts. My thinking is that QCOM, GMST, and AOL will be big winners over the next two years, so my calls should do nicely. In the short term, though, QCOM may have some precipitous drops, so my puts should provide a hedge. If it does go down, I will sell my puts at a profit and buy more leaps. |
