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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Bridge Player who wrote (4653)12/8/2006 2:01:57 PM
From: Carl Worth  Read Replies (1) of 5205
 
well SNDK seems to be doing pretty well, though i've watched it over the past couple of weeks and it's been a wild ride

i actually closed the SPF trade for 22.45 after commissions, because there wasn't much more upside, and it freed up the money over a week early

as such, my total gain was .34 on 22.11, or 1.54% in an average of 13 days, as i put on half the position on 11/22 and the other half on 11/24...this annualizes to 43%, or more if you factor in compounding

i'd like to see SPF pull back closer to 25 and then i would probably at least put on a partial position with january options...if the stock dropped quickly enough, it might even be possible to put the trade on again with december 25s and capture a bit of premium, but that would probably take a pretty good sell-off by monday
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