Greetings V and other porchsters:
Seems that the fall action is starting to begin. Bought the Jan 01' 65 leaps on RMBS and sold the Sept 100's at 5 today (don't know if that was a smart move or not). My predictor methodology of selling calls at the maximum open interest theory fell short for August selling the Aug 250 calls on BRCM. Ended up closing at the 258 level forcing me to roll them to the sept 280's costing me $0.75 per. Same happened with CREE. Bought the leaps when it was really depressed below the 200 day moving average. Had to roll them to the Sept 140's costing me most of my profit after selling the August 120's.
Had a brain "fart" when it came to LSI. I bought the Jan 35 leaps at about 6, when it was trading at about 33. Sold the August 35's. Stock shot up to 40. Somehow my internal grey matter turned to mush and eded up not doing anything about them. So to add insult to injury I lost about 9K by buying leaps and writing calls against it and having the stock go up about 7 points from where I bought the leaps. OUCH! Talk about a tuition bill in the university of life.
How is everyone out there. V, Clappy, Dealer, Lindlgs, Joel, Greg, b-i-a, KG4, Rose, Dangergirl, Povie, Jill, Candide, Cowgirl, Coonaz, etal...
My warest regards,
David |
