Thursday, February 12, 2009

RIO

Here is a stock I have been watching for a while. In my real money account, I was buying this puppy up ever since it dipped below $10. With several hundred shares at an average price of 12, I had a large enough position to put on some covered call trades over the past couple days. I sold the Feb. 17 call on monday for 1.25 each while the stock was at just over 17. That was a lot of time value for just two weeks left in the stock. I closed them out today for 0.2 each. That was a nice 1.0 per share, or $100 per contract, profit i made in just a couple days. And with the stock looking like it is ready to bounce here, I may load up with some more shares with my new profits. i would like to see RIO stay above 14.9 by the close.


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3 comments:

  1. AnonymousFebruary 12, 2009 at 4:04 PM

    Took down RIO at the close, 1000 Shares at 15.75. Stop is at 14.5.

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  2. scrow774February 12, 2009 at 4:08 PM

    Would have also added to kalu and BTU if I had thought of it before the close. Been a busy day what can I say. guess Ill take down the positions in the morning

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  3. scrow774February 13, 2009 at 11:59 AM

    Stocks to watch for the day, in addition to what I already own.
    Long: ABX, ARLP, ARO, ESL, ESRX
    Short: AYE, PG, SUN

    More about theses later.

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