On April 13, I posted the following:
"Bought EBAY at 14.56, and wrote May strike 13 at 2.01/contract for an intrinsic time value of .45/contract. The May strike 13 not only provides a good premium but also a downside protection on the underlying shares to 12.55. At 12.55/share, I'm willing to hold the shares.:
Today, I sold the shares at 15.00 and covered the calls at 2.21 for .43/share gain. I wanted to lock profits before earnings are released after the bell, though Strike 13 still has quite of a bit of intrinsic time value remaining.