RE: INTC
Posted by Jack Haddad on January 22, 2008 at 10:44 am
The 2000 Jan strike 20 calls on INTC which I wrote at .29/contract expired last Friday. Because the shares closed below the strike, I have pocketed the entire premium. I wrote 2000 Feb strike 20 calls at .31/contract. INTC continues to take a beating, and I will continue to add more shares.
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Hi Jack - nice trade for sure. Quick question though - these calls are covered, correct? So, if shares move above the strike price, you just sell at $20 vs. having to buy at market price and then sell them at $20? Thanks.
If the shares closed above 20 by expiration, they would have been taken away from me at 20/share. My cost on the shares was 19.94.