Chester,
Thanks for the ZONA update (not to mention the smile at your punny phrasing). You've got, um, you know, to have ridden it all the way up - don't blame yourself for not continuing to average up (down?). AMZN, YHOO, etc., is all I need say, right? Just having held on is a great achievement.
I've never written any covered options (or naked ones, for that matter), but we were actually just considering doing so on a long position. I think it will make sense in our case, as we intend to sell it at a certain price anyway, if/when it achieves that price. By writing a call option at that strike price, we can pick up a few more dollars. I fail to see the downside there. (Though since I've never done it, I'm not sure what happens if the strike price is hit, but doesn't stay there. I've got more investigating to do.)
I'll be reporting on SIEB / SIEBR when it's all over, in about a week or so.
Ken |
