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To: profile_14 who wrote (65096)5/30/2006 11:18:15 AM
From: CommanderCricket  Read Replies (1) | Respond to of 206092
 
I would like to get a position in PBR. Perhaps I'll get a chance on another sell off.

Feeling much better about the SU and BTU covered calls.

The $USD looks very bad here...

CC



To: profile_14 who wrote (65096)6/1/2006 11:49:46 AM
From: profile_14  Respond to of 206092
 
Because my target price on BTU was reached much sooner than expected, I covered my calls and sold my stock and will await for a pullback in BTU after it recovered nearly 50% of its losses. I covered my calls at 2.25 and sold the stock at 65.20. Note that the cover on the calls was about 50 cents lower than the corresponding price of the calls at the time of the stock sale and that is because I sensed that the stock was going to run further so I unwound the calls before they became delta adjusted for the stock price movement at 1.0 or at a price of 65.

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