Re: Positions Thread
Update: Well I screwed the pooch on ETFC, took a $1.00 loss per share and exited my position minus <$1007.00> including comissions.
Am currently down $2.50 per share on BAC but am not worried about this choice at all. Just need the Fed to cut rates 25 bps or more and instant profit. Still see a two to three week horizon here. Worst case is to hold it and take the 5% dividend for a while.
NILE is working better than expected, almost too well. It shot past my initial target and I sold those $85 covered calls to lock in a short term gain. Worst case scenario here is that they get excercised and I make $4.02 per share on the stock and another $2.50 per share on the covered calls minus commissions for a net profit of $2608 in less than a week minus total comissions of about $73 if the options do get excercised.
Taking into account the above profit plus the Amazon sell even after the loss on Etrade and the paper loss on Bank of America I am still nicely ahead for the week. Am still holding ZMH as well as my other long term holds listed above.
Just now purchased 10 SDBJT options at .55 each, now just need SLB to move up a buck per share from $99.75 before market close.
Jimbo
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