Ahem. Two months ago I predicted that everything good would happen to GMST in due time, but that my poor Aug 85 calls would not partake of the fun:
"three events in coming months will serve as catalysts ... the successful completion of the merger, the demonstrated hypergrowth of the EPG market together with its associated licensing and advertising revenues, and the worthless expiration of tekboy's vast hoard of Aug 85 calls. (This last event, a seemingly unfortunate necessity owing to the wrath of the market gods who dislike newbie hubris, will be my noble propiatory sacrifice for the good of the thread and right-thinking people everywhere.)"
Message 13957036
So far, everything is going according to plan--calls expired worthless, common moving up nicely. Now in addition to the illfated Aug 85's, you may recall, I also picked up a few other calls during the dip:
"I just caved and bought some xsqlh's (CTXS Dec 40) and some qlfkh's (GMST Nov 40) on this latest dip."
Message 13666251
I sold the CTXS ones for a profit soon afterward:
Message 13801505
But I held on the GMST Nov 40s, which now show a profit of 270%. In absolute terms, that profit represents 1/3 of the loss from the Aug 85's. I figure that the market gods are going to let me get the whole shebang back eventually, but only if I stay loyal to Henry and the gang. So I thought I'd take the original Nov 40 investment off the table but roll out the profit into the farthest out calls I could find, slightly OTM (say, 90). When GMST goes up another 25% or so during the fall, I thought I'd roll them out again. Taking the whole pile off the table after one final move upward should then make me whole with room to spare. But checking today the farthest out calls I could find were only Feb, which strikes me as a bit too close in, so I figure I'll wait until the next batch arrives to put the plan in motion.
comments welcome, especially from the evil twin.
ctb/A |
