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Pfizer Inc. Message Board

  • fizrwinnr11 fizrwinnr11 Feb 9, 2011 11:50 AM Flag

    Pfizer covered call rollouts today

    Rolled 50 April 18 covered calls down to the May 19's for a debit differential of $50 apiece. Net cost after commissions of $2,580.

    It's painful but it must be done as I know now that the stock is headed for $22 before the year is out.

    I currently owe the kitty $7,230 and still have 125 of the Apr. 18 covered calls that eventually will need rolling to 19-strike options.



    02/09/2011 11:43:17 Bought 50 PFE Apr 16 2011 18.0 Call @ 1.27 -6,389.50
    02/09/2011 11:44:55 Sold 50 PFE May 21 2011 19.0 Call @ 0.77 3,810.42

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    • What are these May 19 calls covered by?

      • 2 Replies to tiderunner3
      • His inheritted funds.

      • I own a total of 472 long LEAPS calls that I am allowed to write covered calls on. I also own 27 of the 10-strike long LEAPS expiring in Jan. 2013 in my IRA that I am not allowed to write covered calls on.

        In my regular account, the long calls that I own in addition to my Sept. 15/Sept. 18 bull spread (100 contracts a side) are:

        283 of the 10's expiring in Jan. 2013
        139 of the 12.50's expiring in Jan. 2012
        050 of the 12.50's expiring in Jan. 2013

        After today's rollout, the covered calls I have written are:

        097 of the Mar 19's
        125 of the Apr 18's
        250 of the May 19's

    • What you call a roll is, you lost another 2500 bucks in cash (working, unencumbered capital) today.

      i.e. You earlier sold those calls and today bought them back at a loss.

      What you did next, opening a new position, has nothing to do with it.

      Let's see: lose $6000 last week and $2500 (so far) this week.

      You're doing great, 'bub'.

      Well on your way in 2011 in making million dollars.

      Clearly.

      ilaugh

      • 1 Reply to ilaughatallthewrongjokes
      • I also made back over $1,500 by rolling long options out a year - with RSI being the indispensable timing tool that allowed me to do that. Most of my covered call rollouts are good but this one is an exception as the stock got away from me on the upside and isn't giving a lot back. That's fine - it's unrealistic to think that every last rollout is going to be a howling success.

        Yes - I do owe the kitty $7,230 - it's no laughing matter to me when the stock gets away on the upside - it does cost some bucks to extricate myself so that I can take full advantage of future stock price gains.

        Just for the record, so many of the mindless detractors here said that the stock getting away on the upside was the one thing that I did NOT have to worry about with a dog like Pfizer.

    • Anyone can post these phony transactions AFTER THE FACT. I only believe trades if they are reported in REAL TIME. You must post the trade at EXACTLY the time it is filled, NO EXCEPTIONS. It's my way or the highway. I'm sticking to my guns on this one.

 
PFE
31.65+0.23(+0.73%)Dec 26 4:00 PMEST

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