Wednesday, November 11, 2009
SILVER WHEATON (SLW) Call Update
Currently SLW is trading over the covered call strike December $15 (SLW-LC), suggest sell to close the call for $1.35 and buy to open December $16 (SLW-LE) for $0.85.
Original purchase Sept. @ $12.66 sold Dec $15 call (SLW-LC) for $1.10 on Oct. 7th dropping cost basis to $11.56. Now today bought to close SLW-LC for $1.35 & sold to open December $16 SLW-LE for $0.85 thus cost basis is $12.06 and the strike goes from $15 to $16 with 5 weeks remaining until opex.