Sorry, I didn't get to this yesterday. I have a little more time today. So to recap the events of the past week:
I certainly thought that some of the GG shares would be called out either the March 40 or March 45 calls. Alas, it wasn't to be. So, I ended up buying some Apr 40 and Apr 37.5 puts to add to the Apr 30 that I had so that I could cover all the shares that I would own going into April. Also, I repurchased the Apr 37.5 calls that I had sold a while back. The net result is that I increased my basis by 0.70 per share but all shares are uncovered but protected. So, in the next month if GG runs up again, I will sell some calls. I will give it a week or two and decide what to sell. If GG continues to collapse with the gold price I have half protected with 40 and 37.5 puts which I will sell for profit and add to the position. I don't think we are out of the woods economically yet. If we are, the other stocks should get a pop.
No change in YHOO or EMC. Waiting til April to make some decisions.
VCLK was looking crappy. I ended up exercising the Mar 20 puts on Tuesday taking a 3.67 loss per share. It ended up being more than necessary since I didn't sell calls thinking that VCLK might be a buyout candidate. I was wrong. The overall loss was 15.5%. Oh well, I learned something. It could have been much worse without the puts.
CY has been bouncing around 20 and the March 20 calls were exercised. So, those shares ended up being profitable. Since it looked like I might end up keeping all shares, I purchased Jun 17.5 puts. Now I have some extra. My basis on the shares I have left is 28.51. I will be looking to purchase some additional shares to decrease the basis but will make a decision this next week. Furthermore, I have no outstanding calls so I can ride the stock up if it goes that way. I will probably sell some and hold out on others until I see what happens.
DRYS: With the exercise of VCLK puts, I had some extra cash and was able to double my position and decrease my basis to 68.15 including Jun 50 puts to cover all the shares. I have no calls outstanding so that I can see what I will do over the next month or so. I am sure that DRYS will remain fairly volatile.
If anybody has any questions, be sure to ask.
I certainly thought that some of the GG shares would be called out either the March 40 or March 45 calls. Alas, it wasn't to be. So, I ended up buying some Apr 40 and Apr 37.5 puts to add to the Apr 30 that I had so that I could cover all the shares that I would own going into April. Also, I repurchased the Apr 37.5 calls that I had sold a while back. The net result is that I increased my basis by 0.70 per share but all shares are uncovered but protected. So, in the next month if GG runs up again, I will sell some calls. I will give it a week or two and decide what to sell. If GG continues to collapse with the gold price I have half protected with 40 and 37.5 puts which I will sell for profit and add to the position. I don't think we are out of the woods economically yet. If we are, the other stocks should get a pop.
No change in YHOO or EMC. Waiting til April to make some decisions.
VCLK was looking crappy. I ended up exercising the Mar 20 puts on Tuesday taking a 3.67 loss per share. It ended up being more than necessary since I didn't sell calls thinking that VCLK might be a buyout candidate. I was wrong. The overall loss was 15.5%. Oh well, I learned something. It could have been much worse without the puts.
CY has been bouncing around 20 and the March 20 calls were exercised. So, those shares ended up being profitable. Since it looked like I might end up keeping all shares, I purchased Jun 17.5 puts. Now I have some extra. My basis on the shares I have left is 28.51. I will be looking to purchase some additional shares to decrease the basis but will make a decision this next week. Furthermore, I have no outstanding calls so I can ride the stock up if it goes that way. I will probably sell some and hold out on others until I see what happens.
DRYS: With the exercise of VCLK puts, I had some extra cash and was able to double my position and decrease my basis to 68.15 including Jun 50 puts to cover all the shares. I have no calls outstanding so that I can see what I will do over the next month or so. I am sure that DRYS will remain fairly volatile.
If anybody has any questions, be sure to ask.
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