INTC
Posted by Jack Haddad on March 24, 2008 at 10:45 pm
On 2/19/08, I posted the following:
“Bought 20 blocks at 20.52. Today’s downside, which is attributed to the removal of INTC from the conviction “buy” list, does not mean anything negative concerning the fundamentals of the company. INTC’s fundamentals are no different today than they were 3 months ago. Therefore, Goldman’s removal of INTC from their “buy” list recommendation is at best silly. I also wrote 1000 March strike 20 calls at 1.25/contract, and 1000 March strike 21 calls at .72/contract. This is a good mixture of “deep” and “at the money” covered call strategy”.
On 3/28/08, the shares closed above both strikes, 20 and 21. Therefore, my shares got called away and I pocketed .73/contract times 100,000 shares and 1.20/contract times 100,000 shares. This transaction was the funds largest gainer for the month of March.
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