- Sell 100 shares MSFT @ $29.00
- Buy 100 shares MSFT @ 29.46
- Cash: -$46
Tuesday, January 24, 2012
MSFT Update
The other option expiration update I had was the Microsoft covered calls. This one wasn't as simple. The market love MSFTs earnings last week and the stock price raced up past the strike price Friday morning. I had a chance to close the call at breakeven early in the day, but decided to put in a limit order and let things play out whichever way and deal with it today. Well, MSFT kept plugging higher all day and the stock got called away at $29. Since I wasn't ready to end this trade yet though, I repurchased the stock this morning. Luckily MSFT has been dropping today and I was able to repurchase at $29.46. With the $0.14 option premium on the latest call, that means I'm only missing out on $0.32 share. Not what I wanted when I sold those most recent calls, but that happens with covered call positions sometimes. I am going to continue to track this as a single trade.
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