Wednesday, June 18, 2008

Update: GCL 150 Calls

July Crude 150 Calls expired worthless. So I collected all the premium of $550. What's good about selling options is if it expires worthless, I don't need to exit at all ending up saving commissions too.

The oppertunity was almost ridiculous and glad it worked ok. Sure it could have gone to 200, but with one week left, I thought I had a very good chance. One mistake I did was, had I waited right before the close, I could have sold the same options for $1500.

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