HPQ reported earnings on Wed. Not to say "I told you so".......but.......
Earnings met short-term expectations and then Meg Whitman spent the rest of the day lowering longer term expectations.
The weekly options earnings trade discussed here expired on Friday max gain. With HPQ trading around $27, the March $29 covered calls discussed here were deep in the money, and CCI covered them today at $.04.
Now that I'm done patting myself on the back on those two good trades, it is time to go back to figuring out the next steps for the portfolio's underwater HPQ position. This article at seeking alpha describes why I think an investor's strategy can continue to be "trade the range" .
As discussed there, CCI sold a lot of Apr $26 puts for $.73/contract on Friday. An investor can get an even better price today.
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