ps...for future reference..."selling uncovered calls"...is the "short" play with options...although you can experience unlimited losses just like shorting shares outright...you get to take advantage of time premium running out at a faster pace the closer you get to expiration date and don't have to worry about any further action if the price of underlying closes below your strike price on expiration...although luck has nothing to do with it...good luck with your future endeavors!!!
If you "sold" SEP 11 puts that expire worthless...you collected a premium during the sale and your account should have been credited...so you should have made money going "long" through the sale of puts...going short would have been "buying" puts outright...which would have increased in value if the share price fell below the strike price of contract by more than the premium paid for time value of contract...and then, you would be left with the decision of booking profit from the increased value of puts, or exercising, and then, going long by having the underlying shares put to you at a discount to where the stock was trading before the initial transaction of contracts...
My short, SEP 11 puts will expire, worthless today. When I sold them I thought I was taking a chance, but then it jumped up. I'm not confident that it is worth $13 a share. I'll be making money elsewhere for a while.
13.88...13.8875 elastic stretch
13.18...13.1725 elastic stretch
13.70...13.695 convergent flow
to spring or knot to spring
I inhabited the green carpet following Mad Bull's departure from Rector Street office space...has great corner office views down Wall Street over Trinity Church!!!
Look at the price insiders sold at last month. That says it all.
You're right TwoIron. I think he's right about the 17 number though. It may even be conservative. More short covering tomorrow.
Cramer is always about 3 or 4 days behind the point & figure buy signal. This has happened several times over the last 15 years.
PS...I hope all that quantitative easing from the Federal Reserve has produced lots of gains for you to offset your losses caused by the Federal Reserve making Wall Street firms roll out all the junk on their books causing the dotcom fiasco in the first place...Maybe once this little experiment is finished they'll realize if you take all the honey at once...leaving nothing for future growth...it will cause grumbling hive to experience colony collapse!!!