The MM position was closed today for a loss. I made an error in judgement on the MM position by neglecting to check the news before establishing the position. MM is being acquired by SIMYY. The Oct07 55.00 call ended OTM on Friday so I decided to sell the stock today since I don't want to hold companies that are being acquired. The following is the trade history and returns, including IB commissions.
Covered Call Results
Stock Investment: $5,543.00
Income Generated: $209.00
Net Profit: -$38.00
Percent Return: -0.69%
Annualized Return: -10.01%
Duration of Trade: 25 days
Buy & Hold Comparison
Opening Price: $55.43
Closing Price: $52.96
P/L per Share: -$2.47
Shares: 100
Dividends: $0.00
Net Profit: -$247.00
Percent Return: -4.46%
Annualized Return: -65.06%
Duration of Trade: 25 days
Trade History:
27-Sep-07 - Initial Stock Position - BTO 100 MM @ 55.43 - Closed
27-Sep-07 - Initial Call Option - STO 1 Oct07 55.00 Call @ 2.09 - Expired
22-Oct-07 - Close Position - STC 1 Closed @ 52.96 -
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This blog will serve as a trading journal to track my options portfolio. Trade information will be posted weekly, including new positions, adjusted positions, and closed positions. The information presented here is for educational purposes only. Under no circumstances does this information represent a recommendation to buy or sell any stocks or options. If you choose to use this information, you do so at your own risk.
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About Me
- CCWriter
- I've been investing in the stock market for 30+ years. I started out like most investors with mutual funds, then progressed to individual stocks, and finally options trading, using Covered Calls and Cash Secured Puts as my primary strategies. I started this blog in 2006 to track my options trades and also started a discussion group, first hosted at Yahoo, and now at Groups.io, to help others who were interested in trading Covered Calls and Cash Secured Puts. I hope the information provided in this blog, and the accompanying discussion group, is helpful. If you're interested in learning more, please join the discussion group at the top of this page. We have many members who are always willing to help.
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Disclaimer:
The information presented here is for educational purposes only. Under no circumstances does this information represent a recommendation to buy or sell any stocks or options. If you choose to use this information, you do so at your own risk.