I like the bounce!

Great to see the market come back today. The four stocks in my little portfolio here rose between 2.5% and 7.75%. The big gainer was GIGM, the Chinese Internet games company. At this rate the stock will reach the stock price of $12.50 by expiration, a week from Friday.

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2 Responses to “I like the bounce!”

  1. Kurt Says:

    The market had a good bounce but I don’t think that it will be sustainable up to next week. I would be skeptical of GIGM hitting $12.50 by next Friday if it has a mediocre or sub-par earnings call next Tuesday. I believe that they must have good news to report for your issue to hit $12.50… best of luck!

  2. planetim Says:

    I appreciate the comment. After the recent downturn, I do not expect GIGM to reach the strike by next Friday. I will be happy to sell another call against the stock at that time. The time premium on this stock is 6-7% per month, so I wouldn’t mind a few months before it is called.


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