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Citigroup Inc. Message Board

  • billbrittain3 billbrittain3 Mar 18, 2010 3:42 PM Flag

    C Is Glued to $4 (& March $4 Calls)

    A week ago Tuesday morning, March $4 calls were bid at $0.00. They are currently bid at $.04. They have been over $.20 in the meantime. I started with 500 calls, now I have 230. (I will wait until tomorrow with my remaining calls.) I sold 270 calls at prices ranging from $.05 (a few minutes ago) to $.21. With the money I bought 90 June $4 calls over the last few days. The way I have to look at it, I bought the 90 calls with "found" money.

    I have to believe that the "powers to be" are going to keep C at around $4 through tomorrow. Just in case I'm wrong, I kept the 230 March calls. I believe C goes higher next week, (after options expiration) but I hope it's sooner. I would love to see C go higher tomorrow and make some money on my remaining calls!

    Regardless, it has not been a total waste. At least I was able to buy at least (depending on tomorrow) 90 June $4 calls with my "worthless" March $4 calls.................

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