Because the sale price on my Feb calls were consistently below intrinsic value, I exercised my options for LINE units just after the market opened this morning. This was a first for me, so I didn't know how long the lapse would be between my order and the units showing in my account. It was only about 60 seconds. Plus some monster margin. Although the plan was to sell on Friday, having expensive units vs. cheapie options in the account was an unanticipated mind-changer. So I sold in several separate lots and made a nice 8.4 K. Remaining are my sale of 65 April puts at 32. I wouldn't mind closing out at a nickel.
Well, I did close out my sale of 65 April 32 puts by buying back a $.05. A nice trade, as I initially received $.715 (on avg.) for the sale. Should LINE drop a few points over the coming weeks, I'll keep my eye on the July 33s or 32s. And if the units can rise a bit from here either today or Monday, I wouldn't mind selling the July 43 covered calls if I could do so for $.50.
LINE usually drops by at least the divie amount. If their is a SO you may pick up a few more points down. It isn't acting like it has in the past. So maybe we need to look at LINE a different way. Such as growth may be slowing, and till they find what they want to buy. We may be in a holding pattern.JMO