Hewlett Packard traded back towards $26 with this week's market pull back.
It looks extremely like the Dec $28 covered calls will expire tomorrow resulting in a $1.56/share profit which continues to take a bite out of the loss on this trade.
CCI continues to beleive HPQwill be stuck in a trading range for awhile. Based on that belief, CCI reestablished a ratio call spread. Specifically bought one lots worth of Jan $26 calls and sold 2 lots of Jan $28 calls for a non-materiel, net credit. Hopefully, CCI will be right and HPQ will drift back toward $28 and we can harvest option premium gains.....again.
No comments:
Post a Comment