End of the Week, Sold some ENCY

I could not take the slow leakage of ENCY any more so I sold 100 of the 200 shares I was holding. The total return on the trade with the call premium came in at a negative 18%. Ouch! I am keeping 100 shares. I think the stock as a chance for a big run up in the next 6 month and it is a small holding at this time. Considering the psychology of investing, I have probably sold at the absolute bottom.

My option on GRA expires next Friday. The stock has been bouncing just above and below the $20 strike price. If my position is not called I will probably just write a Feb 20 call. The premium looks pretty good. If I am called out of the stock I will be looking for some new opportunities.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: