by billb
9. October 2009 15:02
I still have some GE short calls open for OCT. These are well in the money and are on the verge of being closed. What's going to push the issue is when GE reports earnings before the bell on Friday, which happens to coincide with the expiration date of the options. However, there's an entire session to be had. Given the current tone of earnings season, they'll probably exceed the low bar and move higher. My ideal case is to buy back the calls sometime before Thursday's close next week, wait for the earnings pop for a boost higher and sell some NOV calls either at a higher strike than last month or at the same strike but for a juicier premium. Will it play out that way? Probably not, but that's the way I see it at this point.
If I don't talk to you before, have a great weekend.
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