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| Group Mesages > Unloaded a little of WFC |
| Message Board |
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| Created At : 2009-04-30 |
jackmd1
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Message Title : Unloaded a little of WFC
Message Replies : 0
Description : Sold 5000 sh... at 20.18 and covered 50 May strike 19 calls at 2.55/contract for a gain of .40/share. Be advised that the calls still have 1.30/contract in intrinsic time value left. However, I sold becuase i feel WFC might retrace and test the 19 1-month support level. At 19, I'm not willing to own it.
I do have shares remaining hedged with the May strike 17.00 calls. Now, at 17, the shares are more attractive. All in all, bear in mind that the shares have nearly gone up 250% from the lows.
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