BSCGC hit my sell limit. I bought on friday for 1.25 and sold today for 1.70. I also sold 5/7 of my EMC options today before they report. I doubled up and felt taking some of them off the table was the right thing to do. I just feel that in this market, EVERYTHING must go right for a stock to go up. With VMW reporting this evening and EMC tomorrow, VMW would have to beat and up and so would EMC for us to get much more gain out of this. Recently I have been ripped off by not selling when up...not selling AUEFJ when it doubled, not selling EMCBC when it had went up 80%.... I have had several bad calls...although usually doing the opposite of what I actually did turns out being right. Therefore, VMW and EMC will both rise tomorrow along with my option...but at least i have two left, right?
Total realized gains for today were $700. SGP option almost hit this morning but didn't get called away. That would have been a $220 gain. Now I have good cashflow going into tomorrow. If EMC gets hit I'll likely buy some and initiate a covered call. If it goes up I'll sell my remaining two options. Now I have good cash flow and will look to buy on a gap lower tomorrow. Let's hope durable orders are down tomorrow so I can get some good buys...
Today looked like a good day to get into some MCD options....I'll do more research this evening on different option plays...what I own, what I want to own and when I plan to sell. I really need to get more defensive in my options plays and focus on covered calls and mixing in some puts. So long for now...
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