Hello Pezz, Report – NY Front:
I shorted some covered calls in an attempt to extract my rightful, as in entitled, distribution for the trouble of holding some shares:
North American Palladium uk.finance.yahoo.com June Call strike 10 at USD 0.5/shr (covering these shares Message 19539081 <<November 26th, 2003>> bought at USD 6.87.6.92)
Inco uk.finance.yahoo.com July Call strike 45 at USD 2.50/shr (covering these shares Message 19578803 <<December 9th, 2003>> bought at USD 37.42)
Phelps Dodge uk.finance.yahoo.com July Call 85 at USD 5.00/shr (covering these shares Message 19578803 <<December 9th, 2003>> bought at USD 68.94)
I suppose this is my way of (a) extracting income from lazy dead-beat non-dividend paying shares, and (b) preventing myself from falling in love with shares;
… but, in actuality, I am guessing that I will be able to cover these shorts once the anticipated correction of natural resource shares gets underway, especially that the underlying shares are all at 52-week highs ;0)
I, for each and every month of every year, try to have some shorted options expire worthless, or have some shares called away at a profit, or have some shares I want to buy putted to me at a price below the then market price when I shorted the puts. Sort of like taking vitamins or exercising ;0)
The analog in Unreal Tournament is me firing off a rocket into dark corners before I get too close to it, and every now and then I expire an on-line combatant by chance:0)
Chugs, Jay |
