SSO - Close Position
Written on January 5, 2009 – 10:41 am | by admin
I have decided to close one of my four SSO positions. There are a couple reasons for doing this:
- I can close it at a profit
- I believe we will go down again
- SSO is too large a position
- Its leveraged (see above)
I will give you the details of the overall transaction. I am showing you the details of a position that will yield a profit. I am not using a FIFO/FILO method to this.
Buy: 100 @ $28 ($7 commission)
Net Investment: $2625.58
Sold Nov08 $30 @ $1.85 ($3.58 commission)
Sold Dec08 $30 @ $0.60 ($3.58 commission)
Received Dividend of $0.05911
Sold: 100 @ 28.21 ($7 commission)
Return: 9.36% over 2 option periods (71% annually)
Tags: Rick Position - Closed, SSO
