Hello All...
I wanted to write again, and (ongoing case study) let you know about my NOVL position. As you may remember, I own NOVL,
700 shares NOVL @ 23 (last month)
NUT 20 5/8
Sold 7 Aug calls @ 2 3/4
Bought 7 Jun Puts @ 3/8
Now, the stock (as predicted, pulled back, but not as far as I would have hoped. So, my puts have lost time premium, calls dropped to a low of 1 3/4 (currently back up to 2). RSI is low, Stochastics starting to turn back upward. I am going to sit on this, because there is too much time premium left in the calls, and I will have to wait for another "cycle". Preferably, the stock dropped a couple more points, sell the puts at a profit, buy back the calls, but it didn't come back far enough. I want to keep everyone abreast of the situation, and I didn't get to my computer in time to write this before the open, NOW, NOVL has started its climb back up, would have been a good time to get in, and still may be on a dip. Let me know if anyone has any thoughts/ideas/suggestions. I'm always looking for better angles...
Ryan |
