to recap my Dec 2012 suggestion.
I suggested to sell the Jan 2014 $520 call and put for $150+ than buy a Jan 2014 $390 HEDGE Put.
Since then, I made two revisions. To close out the sale of the $520 call for a $60 profit then sell the Jan $430 call for $45
Then I suggested to close out the sale of the $520 put for $120 a $50 loss but then sell the $425 put for $50 to offset that loss. My $390 put had that 100% hedged.
In conclusion: $100 cash was put in one's pocket.
That sale of the $430 call will be dealt with on April 23.
This is a running recap of the previous $120 that was already pocketed from the sale of the Jan 2013 and 2104 $600 calls.
This is just a lesson why one should sell a covered call for 10 -15% of the market price they pay for that "momentum" stock
here are the numbers...The original posts go back as far as 18 months ago