GE came into my buy range today and RAVN is down 4% as of this writing and down better than 10% from it's high. I have been waiting for almost a year to get decent buy points. Finally getting closer though GE was bought far above my ideal because I'd sold a bunch on $24 and $25 calls which can now be repurchased for less than I got for them in December. Hope I remember correctly that I'm over the 30 day tax requirement to avoid a wash sale.
Raven still has a ways to go before I can buy again. I would begin to buy at about $32 as of today unless my $35 calls are exercised in February and my total holding gets down to less than 10% of my portfolio. In any case, I found today to be a blessing.
Fwiw, I bought a little more Raven last week around $35.50. Sold my Amcol last week after the buyout offer, so had a little cash. Need to do a little more research before deploying the rest of the funds.
As I thought about my extravagant claim that I could not remember ever having a losing trade on calls in RAVN, I suddenly remembered that they have not been offered for very long. So I did as I told you and sold all of my non taxable shares as RAVN stock reached $45 a few times in 07 or so, but then I was selling shares directly, not calls. Also I was not at 10% of my portfolio then. And I bought back a nearly 10% position in a couple of years after 09 which later grew to over 10%. I think my highest purchase price was right around $31. Should the price get down to $32 today, I shall be buying again, and especially if my $35 calls which expire next week take some shares away from me.
If you can get the timing right, it works pretty well. I just can't seem to get it right. I think Skip wrote the calls when the share price was over 40. He can probably close them out now at a good profit. I would love to see this run to 60, but not holding my breath short term. It's been a great company, but Rykhus still has to show he is the match to Moquist.