Out ZNGA, added to ONTY

Posted: February 13, 2012 in Risk Management, Trades
Tags: , , , ,
Pheww got out of my ZNGA Call at .85, for a loss of only -$26.6 could have been much worse, it ran today,
but pulled back in the late trading, I’m happy with this loss, I learned from
this.  In addition I added to my ONTY position 100 @ 8.74 for an average cost
of 8.59, I also covered this for the 17Feb12 9.0 at .50.  ONTY hit 9 today, but
could stay up, I would love this to get called out on expiration, if this
happens as I hold already a Mar call at 9, I would likely purchase another 200
and 1 more Mar Call possible a 10 strike or a 8 for an ITM call as I would be
up already and could reap from the high premium it is offering.  Overall that
would be about a 15-25% return depending on the contract prices at that time.  Feel free to see my C2 Portfolio and trade log using the link to the right.
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