Today I decided to close out my position in Intel a few days earlier after it released a monster earnings report after the market closed yesterday. On top of beating estimates handily the company also gave a better than expected outlook for the latter half of the year. Being that the stock moved 8% on the news, I decided to get out now, since all of the time premium was gone, and I wouldnt be surprised if the market pulls back a little tomorrow, so I wanted to make sure I removed myself from the position. I do however plan to sell a cash-secured put for Intel in august at a strike of $17, if the stock drops back down to the $17.50 range. The final profit/loss info is below:
6/10/2009 -- Bought 100 INTC @ 16.28
6/10/2009 -- Sold To Open 1 INTC July $17 Call @ 0.44
7/15/2009 -- Bought To Close 1 INTC July $17 Call @ 1.05
7/15/2009 -- Sold 100 INTC @ 17.9927
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $1584.00
Final Profit: 6.96
Annualized Profit: 74.73
Wednesday, July 15, 2009
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