Thursday, October 22, 2009

Genco Shipping (GNK) Action


For those who own GNK @ suggested entry level of $22.90, suggest SELL to Open the Jan. 2010 $25 Call Option, ticker GNK-AE, for $1.70.
This will lower the cost basis to $21.20. If called @ $25 by opex, gains would be +18%. If stock pulls back towards $21/$20 level close call position. Reminder, accumulating GNK as to prior posts.


Snapper said...

Have no idea how to do this.....Can you explain?

itzmymoney said...

Covered Calls