Wednesday, September 03, 2008

Quick Update

Just got back from lunch, and I saw that an order to sell some covered calls on Citigroup (C) was filled. Sold Sept 20 Calls (CID) covering half the C position at $0.58. The full position now has an effective cost basis of $21.71. Tack on the 0.32 dividend that was paid out recently, and it's not such a horrible loss.

Also, nice to see that the Wet Seal is back above $5. We're approaching striking distance now of the $5.50-$6.00 range that I was targeting. I had a small window before where I could have sold some shares in the 5.50's, but I missed it. Hopefully soon, I'll get a new chance.

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