Well, I wanted to unload C because I think they're headed down. I made $71 selling the covered call on C, and I lost about $55 when I sold the stock. So, after trade fees, I barely did more than break even. I could have bought the option back for $0.01 +trade fees on Friday, and then sold the stock for a profit, and been better off all the way around. But, that's what I get for holding a stock that I know is "bad" for a day longer than I have to.
Lesson Learned: If you buy a "bad" stock for a short term swing trade or to sell an option, be sure you get out as soon as you've made your money. Buying the option back for a penny on Friday and paying a $5 trade fee, then selling the stock for a profit, would have netting me about $100 bucks (option sale + profit on stock sale). Now, I'm up about $10. So, by holding the stock one day longer than I should have, I lost about 90% of the value of this trade.
DannyUpshaw > Trade Notes
Member since: May 07 
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DannyUpshaw: Trade Notes
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