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.
Tags: DIG
One Response to “DIG - Open/Close Position”
By Chris Moran on Dec 8, 2008 | Reply
Nice writing style. Looking forward to reading more from you.
Chris Moran