Thursday, February 14, 2013

Took Profits in HPQ Covered Calls

Long time readers will recall that CCI's portfolio  is "blessed" with a long position in Hewlett Packard.

As discussed here, on Jan 14 (one month ago to the day)  CCI sold two lots of Feb $17 calls for a credit of $.63/contract.     With HPQ trading around $17 today and 1 day until expiration, CCI closed the position pocketing a gain of $.49/contract.  A small get back on the overall loss in this position.

CCI still looking to exit this position.  HPQ reports earnings next Thursday.  CCI is considering re-establishing an option position just prior to that event.  Stay tuned.

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