Thursday, October 22, 2009
Genco Shipping (GNK) Action
***ACTION ALERT***
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.
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2 comments:
Have no idea how to do this.....Can you explain?
Covered Calls
http://www.optionseducation.org/strategy/covered_call.jsp
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