Sold 4 Jul $27s of Dendreon at $0.64 each and 6 Jul $9s of Elan at $0.15.
Note the Elan calls are selling at 2% and if exercised would yield 27%+. This is EXACTLY the risk I'm looking for - getting my 2% a month with huge upside. The $8 calls are $0.30 which is a 4% monthly return, and probably are a smarter play. I actually do NOT want to lose my Elan shares which is why I elected to only sell 6 calls at the $9 strike.
Regards,
Trond
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