BAC - Close Position
Written on February 23, 2009 – 10:46 am | by admin
Today before the market open, I closed my position in Bank of America. Last month I bought BAC at $6 and sold the $4 strike for $2.28. Last Friday BAC closed at $3.79 and I wasn’t exercised. Luckily, the financial sector rallied to open the day and I sold out in the morning for $4.30. Doing this vastly increased my return to my best return on a single position since I started this in October/November.
Details:
Buy: 200 @ $6.00 ($7 commission)
Net Investment: $1200.00
Initial Income: $446.50
Other Income: $0
Sold: 200 @ $4.30 ($7 commission)
Return: $92.50 (12.43%, 308.05% Annual)
Tags: BAC
