Hi, Poet, been gone for a while. Just checked in and see that my March 105 COMS calls are doing quite nicely. I have no idea what will hapen tomorrow, though, so I just bought some March 85 puts to hedge my calls. The spread is pretty large, but the puts are just protection against the bottom falling out. I had bought way OTM COMS calls as cheap lottery tickets. I think there is a small but real chance that PALM will go to irrationally exhuberant levels, like 250+, in which case COMS would be at bubble levels over 300, and those calls will be at inflationary wealth effect levels (did I get in all my Greenspeak?) :-) Still have my common, which I think I will keep for a while.
On CREE, I had sold to close my June 85 calls and common a couple of weeks ago, and later bought back some March 180 calls when the stock came down to the 150's. Those calls are doing nicely as well, looks like CREE is making another run. Lest you think all my trades are winners, I closed out my RMBS puts at a loss a week ago. |
