I bought back in partially on Friday - VRC, DO, ESV, RDC, etc.
I sold my CDG puts; still have GLM July 17.5 puts.
I bought July CDG 30 calls. If these stocks drop further on mon/tue, I will buy more calls, probably on GLM, ESV and VRC.
I expect these stocks to gain strength going into options expiration this friday. (Lots of stock to buy back as the put holders cash in). (After Friday, who knows?!?!?!) If we do get a bit of a pop, I will reload on puts and perhaps sell calls against my stock and long calls.
For example,
with 1000 shares of GLM at 17.5, I would buy 10 August 22.5 calls. If the stock rises to 19-20 by friday, I would buy 10 (maybe more if they are pretty cheap) Aug 17.5 puts and sell 10 Aug. 20 calls. I should win (or at least not get smacked around too badly!!) if stock goes up or down.
In order to leg into this hedged position, a small amount of capital is risked, the cost of the Aug 22.5 calls. These must be purchased when the stock is pretty crippled. Are we there yet? <G>
Mike
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