I purchased 29 MAR 45 CALLS as the company beat earnings, raised guidance and has a 35% short on a 42MM float - I thought that I had the perfect recipe for a quick flight over 45.00USD on the stock and a quick / MONSTER trade. However, the move was very slow and painful and twice yesterday, 03-17-09 and even today, 03-18-09, these calls did not have a bid - needless to say, I was sweating hard and looking to get out of this position before expiration within three days. I purchased all 29 calls on 03-17-09 at .10 per contract as shown below:
Filled Buy to Open 29 +FDSCI Limit 0.10 09:42:56 03/17/09
Today, 03-19-09, I set up a sell order at .20 per contract while was was picking up the kids from school and the order was filled as shown below:
Filled Sell to Close 29 +FDSCI Limit 0.20 14:17:13 03/18/09
These calls closed today at .30 / .50 and the stock is .83USD away from the 45.00USD strike price. No big deal - sometimes you have to take only a little piece of the pie and leave some on the table for others...
Enjoy trading!
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