THe board was fairly quiet yesterday. Jim & Rob, the corporate news is strong and the macro economic for the US is mutted. I liked CNBC's discussion of the Baltic Dry Index with Mark Mobius, he saying the index is not reporting what's going on..the opposite. The Bears seems to have lot's of food left. We have 2 weeks till earnings.
jim- cost/sh 13.74,if assigned thats ok. i'll take it. got more shares to continue buy down or ladder, flexibility,
CNO- did they have a crook? good institunal holders, what happend to their eps,? lawsuits?
the next time you do 50 contracts dont make them ALL one month and one strike price.
if i knew you were going to do 50, about 30 of the aug $14 and 20 aug $15 would have been a little better..laddering
your crystal ball doesnt have to be as good when you use that approach for its price one month from now.
the $1.06 you received basically gave you downside protection to $12.94 fwiw
if you want to pyramid your play a bit.
take the $5300 cash you just received and go buy 1000 free shares of CNO for $5.15 and sell the jan $5 cc on them for $.85 to $.95 to get them for about $4250 net
every month you may be able to pick up 1000 free shares of CNO in this manner
you have those shares tentatively sold for $15.06
$1.06 cash you just received and maybe the $14 balance in a month IF gnw is over $14 and you want some or all those shares taken for a profit.
those sold calls will lose about $.20 per week of TIME value.
on the 50 contracts you sold thats $1000 per week