Friday, June 17, 2011

Xerex Coverd Naked Puts

Bought back the $10 XRX June puts for $.18.
These puts  were sold about four weeks ago for $.28.
So this lot of stock made $.10 or a little over 1% in a little less than a month.

Still bullish on Xerox, but wanted to pocket this modest profit with the thought that a better options based risk/reward opportunity to re-invest the proceeds may present itself in the near future. 

Stay tuned.

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