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Bill Maurer
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I am a market enthusiast and part-time trader. I started writing for Seeking Alpha in 2011, and it has been a tremendous opportunity and learning experience. I have been interested in the markets since elementary school, and hope to pursue a career in the investment management industry. I have... More
  • Options Portfolio Quick Update 0 comments
    Mar 9, 2012 4:36 PM | about stocks: MCP
    Options expiration is next week. 3 of the 6 positions in the portfolio are expiring, so I will be posting a formal article updating the positions next week.

    But before that, I am closing out one position. I am selling the $22.50 March calls on Molycorp (NYSE:MCP) for $8.30. These calls were bought for $3.65, so that is a nice gain of $4.65, over 100% profit.

    I could have held this position to expiration, but with the time decay over the weekend, I'll take the gain now, instead of risking gains.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: basic materials Stocks: MCP
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