Friday, September 12, 2008

Writing ETFC Covered calls

Writing the ETFC $4 Oct calls
10 contracts $0.15 per share

Here's the math:
Sold Oct $3 $0.50
Bought back Oct $3 $0.35
Selling Oct $4 for $0.15
----------------------------
$300 cash for the calls
Moved strike price from $3 to $4

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