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DIG - Open/Close Position


Written on December 8, 2008 – 9:20 pm | by admin

Today I attempted to open a position in DIG.  I purchased 100 shares near the end of the day at 27.87.  I was trying to sell the $23 strike for $5.70 which would have yielded 2.34% or 31% annually.  My purhcase was on the little bump around 2:55 CST time.  My option never was taken by a bidder and my order expired at the end of the day.

This left me in a pickle.  Either I could sell my DIG in the after-hours market for a loss or wait for morning and try and sell my call.  I ultimately sold my DIG after hours for $27.50 or a $0.37 / share loss plus commissions.  I figured that this was the best course of action since I wouldn’t be at risk of some market moving news.  If I still like the DIG position in the morning, I can try to establish my position again.

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  1. One Response to “DIG - Open/Close Position”

  2. By Chris Moran on Dec 8, 2008 | Reply

    Nice writing style. Looking forward to reading more from you.

    Chris Moran

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