I won't bother with listing all the costs + commissions in every entry. What I'll do is list what I bought/sold, why, and the total portfolio at that point.
Bought 2000 NBIX at $4.63 and sold 10 Jun08 $5 calls at $.20.
Bought 400 ELN at $27.30 and sold 2 Jun08 $28 calls at $2.50.
It kills me to sell calls against Elan (ELN). They will likely be coming out with positive results for their Alzheimer's drug this summer and I think it likely the stock will soar. That said, 7% for just over a month is kind of nice too. But I'm only selling against 200 of the 400 shares I bought.
Neurocrine (NBIX) is expecting a lucrative partnership agreement sometime this summer/fall. That is why I am again selling calls against only half of what I bought.
Cash: $76497.98
Positions:
2000 SUPG, -20 (Jul08 $2.5)
2000 NBIX, -10 (Jun08 $5)
400 ELN, -2 (Jun08 $28)
Regards,
Trond
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