11-14-2013, 10:45 AM
Decided to play this a.m., just couldn't resist the excitement of the wild price swing.
Added 400 shares at $21.15, well above the low.
Closed 8 covered call contracts, retaining 75% of the original proceeds ($640 net)
Bought 10 Dec $22 call contracts at 21 cents
Am now holding 1200 shares free and clear, but do have a fresh GTC sell for 4 short call contracts at $22 strike against my cheapest batch of shares, $20.50 less call proceeds and a couple of dividends. As of now, the position remains solidly in the green. My bet is that at least for the short term of a quarter or two, that this morning's reaction is over done.
I'll refrain from mentioning these kinds of shorter term trades of such activity if you consider the content to be too far outside the bounds of the board theme of DG investing. Personally, I enjoy seeing what kinds of investing others are doing, whether as trades or longer term investing. But some longer term investors get really put out by trading comments. So just let me know by reply here or via pm if you would like me to only post remarks related to longer term dividend candidates and holdings.
Added 400 shares at $21.15, well above the low.
Closed 8 covered call contracts, retaining 75% of the original proceeds ($640 net)
Bought 10 Dec $22 call contracts at 21 cents
Am now holding 1200 shares free and clear, but do have a fresh GTC sell for 4 short call contracts at $22 strike against my cheapest batch of shares, $20.50 less call proceeds and a couple of dividends. As of now, the position remains solidly in the green. My bet is that at least for the short term of a quarter or two, that this morning's reaction is over done.
I'll refrain from mentioning these kinds of shorter term trades of such activity if you consider the content to be too far outside the bounds of the board theme of DG investing. Personally, I enjoy seeing what kinds of investing others are doing, whether as trades or longer term investing. But some longer term investors get really put out by trading comments. So just let me know by reply here or via pm if you would like me to only post remarks related to longer term dividend candidates and holdings.
Alex