Wednesday, August 12, 2009

IBM Call Assignment

I got called on my IBM 105 calls last week. It was part of my guerrilla calendar strategy that start back in June. IBM had moved steady over the past few weeks but I had collect some premium in July options so I didn't sweat too much on the strong bull run. I covered my short position immediately and was out for very small loss.
Lesson learned, need to adjust sooner once short options are ITM.

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