So what do we do now?
We have 200 shares of F @ $2.02 on this trade.

Remember, this is not an investment, it's a trade that looks like an investment, or an investment that looks looks like a trade.

Some people say sell at $2.95, take your 57% profit and move on. Others want to sell another call and sit back. Still others seem extremely bullish in the long run.  As everyone knows we think F will reach $5 and we are trying to get the highest % return.  57% in 2 months seems astronomical, but we just did it. We can do it again, in the next 25 days.

Who's in ?

I am just reading up on options and must say am getting excited about trading them. I started trading stocks a little over a year ago and am up better than 60% for the year. I'd like to be in on this action as well to start my sojourn into the options world, though 7+ seems very plausible to me for Ford. I started out holding it back when it first fell to around $2 and was amazed and disappointed to watch it sit and do nothing while the rest of the stocks were soaring! I finally gave up and moved on just to see it take off afterwards!
I will set up the appropriate documents to get "Options Ready" this week. Looking forward to the action!