Seeking Alpha
  • Ocean Man
    Sold July $87.50 CMI calls for a 66% gain in 8 days. $6.10 ----> $10.10. Stock up 6% today! 500 bucks a piece.
    6/29/12
    Reply (4)
    • Ocean Man: Might re-buy at a higher strike to limit loss, still like that name.
      6/29/12
    • FortSumter: So are those covered calls then?
      6/29/12
    • Ocean Man: Oops, meant 400 bucks a piece. No, not covered calls. Just meant I can get same upside risking $400 instead of $1,000 each.
      6/29/12
    • Clayton Rulli: Coulda kept them, but sold a higher strike leg- locking in most your gain, making your potential net loss 0%. just caps your gains fromthere
      6/29/12