As discussed here, CCI sold one lot of April $26 puts in Hewlett Packard for $.73. With HPQ trading at $24.51 on Friday, CCI is the proud new owner of another lot of HPQ shares at an effective price of $25.27.
I continue to believe in my thesis that HPQ will remain range bound for awhile and hopefully that means this lot of shares has been added to the portfolio at an attractive price. If/when HPQ moves back toward the top its trading range CCI intends to sell some calls against this position.
FYI, HPQ earnings are not until May 23.
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