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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: penthouse mike who wrote (31427)	4/30/2012 10:41:26 AM
From: GROUND ZERO™	Respond to of 222886

Mike, the market is already above my strike price... I wrote in the money calls when I wrote them... I wanted that safety net... and yes, the option buyer could exercise my written calls and take my underlying position, but so what... I'm not married to it, it's only a trade, I can only hope the calls are exercised, this would mean I made my money and the trade is completed... but still, and yes, I could always roll into June before expiration if there's so little time premium left in the May calls that holding them is not purposeful... GZ

To: penthouse mike who wrote (31427)	4/30/2012 11:41:57 AM
From: GROUND ZERO™	Respond to of 222886

I decided to lighten up my longs here, i closed out some of the covered call positions... GZ

To: penthouse mike who wrote (31427)	4/30/2012 11:51:16 AM
From: GROUND ZERO™	Respond to of 222886

I've now gone completely flat... will wait and see, this market acts too funny for me right now, I took my reduced profit for this covered call position... it could go higher, but I'm already satisfied with the trade... GZ