Hello Pezz, Tonight’s Report:
I covered my QCOM July Put strike 35 at USD 0.65, recognizing oodles of profit to the tune of USD 3.35/shr in continuation of this game with Maurice :0)
…
Message 18500597
January 28th, 2003
Hello Pezz, This Morning’s Report:
In order to rip some ribs from the Mq bulls, to hedge my egotistical greed per your admonition, and to heed DAK’s advice on QCOM, I did the unforgivable:
(a) I purchased a whole lot of QCOM shares at 36.90/shr
(b) Shorted equivalent number of QCOM July Call 37.5 at 4.80/shr
(c) Shorted a lot of QCOM July Put 35 at 4.00/shr
Maurice, you probably know this but just in case:
If QCOM stays within the band topped by 37.5/shr and bottomed by 35/shr in third week of July, I will have acquired my QCOM shares at effectively 28.10/shr;
If QCOM rises above 37.5/shr in third week of July, I will have to sell my QCOM shares at 37.5/shr, keep the premium of 8.80/shr, netting a 25% return (50% annualized); and
If QCOM drops below 35/shr in third week of July, I have to buy another lot at 35/shr, and would still be breaking even at approximately 32/shr.
I will probably have a chance to close either and/or both call/put option trade before expiration.
Chugs, Jay
Message 18883524
April 25th, 2003
… (c) Closed out this short QCOM July Call 37.5 position at o.55-0.60/shr Message 18500597 and recognizing a 4.20/shr profit, leaving the long stock and short covered call position for summer rally harvest time.
Chugs, Jay
Message 18892762
April 28th, 2003
Hello Pezz, Last Night's Report:
(a) Short sold QCOM October Covered Call Strike 35 @ 2.15-2.20
At this point, I still hold the QCOM shares, and still have an open position in short QCOM October covered Call strike 35.
I have successfully ripped USD 7.55/share from Q :0)
Chugs, Jay |
