June expiration came and went -- hoo boy do I wish I hadn't been conservative on the last batch of Elan calls!
The good news is that I made just over $6,000 in call premium -- although some of that is through future expiration months. I made around 3.4% for just this month, easily surpassing my 2% goal. Most of my Elan and all my Wyeth was called away.
The bad news is that Taser and Sangamo lost quite a bit of actual share price. So now I have to make the decision whether to hold, and sell calls quite a bit out-of-the-money (for much less than my 2%/month goal), wait to see if they gain some back, or simply sell for the loss and put the money to work in a hopefully better place. I haven't decided for sure yet, but I am fairly sure I'll be holding on to Sangamo and selling the Taser.
With the money raised by the exercise of Elan and Wyeth, I have today bought 500 Cardiome @ 9.19 (-5 @ $1 at $10 July strike) and 400 Nvidia @ 19.28 (-4 @ .70 at $20 July strike).
Regards,
Trond
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment