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Strategies & Market Trends : Value Investing

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To: Ditchdigger who wrote (48127)	8/21/2012 6:58:50 PM
From: E_K_S	2 Recommendations Read Replies (2) of 78774

Ship Finance International Limited (SFL) - Peeled off 50% my high priced shares booking a small gain. GOV - Sold December $22.5 Covered Calls; Sold DEC $22.5 naked Puts (Dec $22.5 straddle w/ net credit of $1.85) Sold 50% of my SFL shares and also sold the September $15 covered calls on my remaining shares. This is/was a top 10 holding. Even after selling a 50% position it is the 8th largest position in the taxable portfolio. Booked profit on today's sale and new position now has an avg cost of $10.88/share. The covered call strategy is a way to hedge my current gain and book the gain if the stock is called on September 21, 2012. Moving the proceeds into cash for now. Looking to buy more REITs and/or REIT preferred shares. I have a GTC order for WRT at $25 or lower ( WRT is a REIT preferred at $25 PAR yields 7.5%). Also did a GOV Dec $22.5 straddle w/ a net credit of $1.85/share. This allows me to buy GOV at a price of $20.65 if the stock sells below $22.5/share on December 21, 2012. Stock represents a good buy at that price for the previous reasons mentioned in my earlier post up thread. EKS

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