Friday, June 15, 2007

Quick Update

Options expire today, so here's a quickie to keep the record straight.

Yahoo! (YHOO) June 30 calls (YHQFF) sold for $1.25 will expire worthless.

Form Factor (FORM) June 40 calls (AFUFH) sold for $1.05 are deep enough in the money that I will not be buying them back. The LT Portfolio's FORM position will be called away this weekend for $40. I will be looking to buy the shares back when they fall back closer to $40. If the stock runs away from me, that'll suck. I still like the company quite a bit. I will keep FORM on the list of stocks on the right for now. I will remove it from the list if a couple weeks pass and I was unable to buy the shares back.

The Network Appliance (NTAP) June 32.50 (NULRZ)- 30 (NULRF) bear put spread resulted in a loss of 0.45. I closed out the 32.50's, and the 30's will expire worthless. I could have taken a significant gain earlier in the week, but decided to gamble and hang on until the last minute to close out. As you see, I lost that gamble.

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