Sold covered calls (Jan 27.50's, YHQAY) on two-thirds of the Yahoo (YHOO) position at 0.95. This effectively brings down the overall cost basis of the position to 26.66. However, the shares covered by the calls have a maximum upside at 27.50; by selling the calls, I have effectively sold the shares at $28.45 barring a drop in price below 27.50.
I never intended to hold the entire position through their earnings call, which takes place on January 23. So, if the shares get called away, that's perfectly fine by me. If not, I will probably end up selling them anyway, and holding just one-third of the position.
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