I decided to go ahead and wrote an STP Aug 22 Call at $1.00. Will see how it goes.
Tuesday, July 28, 2009
Week of July27, 2009
Market had a huge run last week. I am expecting a softer trend this week. One of my targeted trade was writing a call for STP, which I own as well. Solar stock has regain strength partly due to the recent news on the Chinese government subsidizing the deployment on solar energy.
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I had three "planned" trades which I decided to sit on and which would otherwise turn out to be profitable should I had acted on them. All three are for Sept.
ReplyDeleteThe first one was to write AIG Sept 10 Put @ $0.9 (AIG stock was at $13.05). Now the premium has dropped to $0.72 (AIG is at $13.14)
The second one was to write AIG Sept 16 Call @ $0.91 (AIG at $13.05). The premium now has dropped to $0.76. Seems that both out of the money premiums have dropped accordingly. Interesting
The last one was to write ABX Sept 32 Put @ $1.65 (ABX was at $13.05). Current premium has dropped to half at $0.85 with ABX trading at $34.90.
Well that is it for this week. I hope it has been productive week for you. See you next week.
Concerning a run up on STP, I decided to close the STP Aug 22 Call at $0.35, which I sold for $1.00 back in July 27.
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