Hello Pezz, Tonight’s Report:
I am expecting my QCOM got called away by someone who owned my shorted October covered Call strike price 35; the market price of QCOM is, as Maurice pointed out, north of USD 44. This closure enables the booking (without counting dividends) of USD 7.8/shr of profit (vs. USD 7.1/shr if straight long) on QCOM that is part of this sequence of trades:
Message 18500597
(January 28th, 2003)
(a) 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
Message 18883524
(April 25th, 2003)
(c) Closed out this short QCOM July Call 37.5 position at o.55-0.60/shr
Message 18892762
(April 28th, 2003)
(a) Short sold QCOM October Covered Call Strike 35 @ 2.15-2.20
Message 19045374
(June 19th, 2003)
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)
I am also expecting my Interpublic to be called away at USD 10/shr (market price is north of 14/shr), allowing me to reach closure on a series of trades that now end with me booking (without counting dividends) USD 5.4/shr as profit (vs. USD 4.22/shr if straight long):
Message 18124860
(October 17th, 2002)
(a) purchased IPG quote.bloomberg.com. at US$ 10/shr,
(b) short sale IPG April Put strike price 10 (.ipgpb) at US$ 2.2, and
(c) short sale IPG April Call strike price 10 (.ipgdb) at US$ 2.05/shr.
Message 18760771
(March 27th, 2003)
I am not a greedy man, and so have
(a) Closed out this trade (see reference below) for IPG options at 0.25 for the Call and 0.75 for the Put, generating a profit of USD 3.25/shr, and
(b) Shorted another tranche of October covered Calls strike 10 @ 1.35/shr, consolidating positions already captured
Chugs, Jay |
