Friday, December 16, 2011
RIMM Covered Call Trading Experience
Bought shares of RIMM after the Goldman Sachs upgrade at 19.50. Sold covered call at 20 for 1.78. Stock trickled down to 16 or so, bought back the call at 0.52. Sold the 15 call for 2. Stock went up to mid 17 then came down to 16. Bought back the 15 call for 1, then sold the 16 call with less than a week remaining for 0.56. Then the stock plummeted after disappointing earnings prior to options expiration on 12/16. Bought back the 16 call to close out everything for 0.01. Sold out of RIMM at 13.48. Overall, bought at 19.5 sold at 13.48. Lost 6 on the stock, then made 2.5 trading options.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment