Thursday, March 20, 2008

Quick Update

Since there's no trading tomorrow, I guess I know the results of open options positions.

Apple (AAPL) March $120 Puts sold at $3.40, expire worthless.

Wet Seal (WTSLA) March $2.50 Calls sold at $0.30, will result in assignment. Based on closing price of $2.65, this represents a gain. Not sure if I will buy back the stock or not, as I still have a rather large position in the company.

Also, keep an eye out on Amgen (AMGN). It is at a fresh 5 year low. I have to believe that an opportunity is materializing, if not already present.

Well, that's it for now. Bring on Vegas!

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