Monday, October 3, 2011

Cisco - Covered Calls Removed

With CSCO trading back down around $15.30 along with the market, CCI bought the Oct $16 calls for about $.33 after commissions to close the option position.   These calls were sold for a little over $1 about two weeks ago. The portfolio made about $.67 or 4+% on this transaction.  There was "only" about 2% left on this trade.
A small bit of green in a sea of red in the portfolio the past month.

CCI would still like to exit the CSCO position, but I think/hope there might get a chance to exit closer to the top  of Cisco's trading range.  Hence, a similar  covered call position might be reestabslished if the stock moves back up in this volatile market.

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