I closed out 1/2 of my position in BID Dec calls for 5.30. The calls had a cost of 2.15 - so a 100% profit. I will continue to monitor the stock today and decide whether to take the profits on the rest of the position or see if I can make it to the target of $50 per share at which point the calls will be worth $10. The other option would be to close out the current $40 calls and buy the $45 calls for around 2.20 or so.
FORM is a stock that is getting hammered today. But the weekly indicators are not showing that the selling can continue for long. So I am going to take a chance. Buying April '11 - $10 calls for 0.60 (Bid is 0.55 and ask is 0.70 but my bid at 0.60 executed almost instantly). I know, this is kind of long term for me - I usually can't hold onto any position for 6 months - but this is one of my long shot gambles. Lets see how it plays out.
No comments:
Post a Comment