It wasn't more than two days ago since my last post so I will just get into the state of my portfolio. Today I had two STC (Sell-To-Close) orders execute for me. The first I am going to mention is the $7.50 put option I bought against Capital Product Partners, LP (CPLP). Since I was wrong about CPLP going down to $7.50 and my concern that it would dance around $8 was confirmed, I slowly but eventually accepted the wise decision was to pail out since the highest probability was that my position would be eroded by time decay. As a result I accepted the 48% lose.
The second STC trade that executed were the 3 $2 call options I bought in hesitation against Citigroup, Inc (C). The thing is that the result was about a 9% gain in just two days. I have to say, I am quite pleased it reacted so well. Now if only C would cross above the $4 mark. I could then start to see improvement in the 5 $4 call options I bought against it in late May. I am not really expecting it to climb above $0.36 a contract share, but I currently have an order in for $0.45. That will return to me a large chunk of my original investment and make the bitter taste of a bad trade into the more palatable flavor of a learning experience. We will see what the future brings. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
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