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Quick 9% Profit From Blackberry

|Includes:BlackBerry Ltd. (BBRY)

A few hours ago I managed to buy 100 shares of BBRY at 8.25. I decided to decide later whether to buy more stock and which month and strike covered calls to sell. It turns out markets were faster:). Just a couple of hours later, BBRY buyout at $9 came out. I made a quick 9% profit, but missed the rapid time decay from collapsing covered calls volatility as I sold the covered call only now, after the announcement. I was expecting a longer time frame and a chance to add more stock as I free up resources.

Percentagewise, not bad. But the total amount is small of course, based on the small size of my speculative account.

Disclosure: I am long BBRY.

Stocks: BBRY