Tuesday, November 1, 2011

Sold November Covered Calls

On Nov 1, CROX @ 18.22
Sold 6 contracts Nov 20 calls @ .40 = collect $240 credit
CROX has been weak and I do not think it will rise above 20 by
expiration on Nov 19.  If it stays below 20, I keep the $240. 
If it rises above 20, I will adjust the position by rolling to higher strike price
for December calls. 
If the price falls further, it might hit my exit order I placed an order to buy to close at .05 cents GTC (good till canceled) because if CROX price falls further,
this will close me out of the trade with .35 cents profit x 6 = $210.  

No comments:

Post a Comment