No. of Recommendations: 6
...unloaded some yesterday at a price/book I was comfortable with...
I think it was a not bad moment.
I wrote a couple of calls shortly after market open yesterday, thinking things looked a little peaky. Strike $540 for a premium of $32.75, so net exit $572.75, which is 1.645 times current book. Book will presumably be a few percent higher by the time the expiry date rolls around, but still not terrible. Or (much more likely) I close the position sooner, or (less likely) the price will be weak in the stretch before expiry and I'll keep the whole premium.
Jim
