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15 Day 6.32%
1 Month 3.93%
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UPod: Trade Notes

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Trade

Bought to Close 8 contracts of WSP AX at 1.43

UPod posted on 06/27/08 at 07:40 AM (Note posted about 8 hours after the trade)

Trades | Notes | Blogs

WSP AX 0.20 0.00 [0.0%]

Trades | Notes | Blogs
Users Bought (30 Days) 0 (0%)
Users Sold (30 Days) 0 (0%)
Market Cap 15.91B
52-Week High 22.07
52-Week Low 7.06
10 Day Volume 10.76M
P/E 26.91
EPS (Trailing 12 Mos.) 0.8
1Day 5Day 1Mo 3Mo 6Mo 1Yr

Transaction: Bought to Close
Symbol: WSP AX
Quantity: 8 contracts
Price: $1.43
Value: $1,144.00
Stop Order: No @ $
Target Price: $

I was finally presented an opportunity to close this position without taking a loss.    I made a whopping $10.00 profit on this trade,  but hey,  I'll take what I can get.   That at least pays for my next two trades.

I've been wanting to get out of this for the the last couple weeks.   I plan to keep selling covered calls with my SBUX shares,  but I'm going to use shorter expirations (30-60 days ) and lower strike prices.   I want to try and take advantage of putting faster time decay on my side.

See the following for more info Sold to Open

Edited by UPod at 10/07/08 at 03:20 PM
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Posted by UPod on 06/27/08 at 07:40 AM

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corbinb2

Member since: Nov 07
5 Day -15.11%
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Trades 214
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Age: 40's
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corbinb2
Posted June 27, 2008 (08:04AM)

That 10 $BUX should get you a cup of coffee at one of their stores too...barely...lol

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mpc220

Member since: Dec 07
5 Day 0.00%
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1 Year 203.45%
As of: 11/21/09
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Trades 234
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Blog Posts 6
mpc220
Posted June 27, 2008 (09:30AM)

Glad that you were able to escape without damage, but I gotta warn you: in my experience, waiting to eke out some miniscule profit on a losing position can end up costing you thousands of dollars compared to just closing it out.

There's no shame in taking a loss.

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