Tuesday, November 10, 2009

ITZ PIX ; Covered Calls Recap

Recap on a few of the Itz Pix covered calls.

Abbott Labs (ABT) Entered in August $44.89 sold covered call Oct 30, Jan $52.50 (ABT-AX) for $1.35...cost basis $43.54. The stock is trading over it's Strike price. However we have 9 to 10 weeks remaining until opex. Tonight Cramer on Mad Money gave a technical chart outlook, sees ABT heading higher, maybe? Locked in now for a 20.58% gain, may roll up as we near opex...we'll assess then.

Yamana Gold (AUY) Bought in July $8.50 sold Jan $14 (AUY-AP) for $0.90 back on 10/19. Cost basis $7.60, stock current @ $12.61

Silver Wheaton (SLW) Entered @ $12.66, back on Oct 7th sold covered call Dec $15 (SLW-LC) for $1.10 Cost basis $11.56. Stock is currently @ $14.97, looking to roll up & out, lets wait for some time decay to kick in as we near opex in December. Currently if call @ opex would be a 29.8% gain.

Genco Shipping (GNK) Entered Oct @ $22.90, sold covered call Jan $25 (GNK-AE) for $1.70, Cost basis $21.20, stock is @ $20.72 down 5% today, high beta stock.
*click chart to expand image

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