- ACHN order filled at 9.111, Covered Call filled at 0.94. Price is climbing, so I may well get assigned for a net profit of 349.96.
- Account is approximately 187.11 in margin at probably 4.5%/annum.
- Could not write a Buy-to-Close at a 5% ROI -- got a "price out of range" warning.
- Anticipated ROI 9.66%, or 19.35% if I get Assigned.
Gut Check:
- Very strange! The pre-market price for ACHN was 9.34 but my order got filled at 9.111. Then when I wrote a Covered Call at Strike 10.00, the trading platform quoted me 0.85, but it got filled at 0.94!
- Overall feeling very relieved, and much less stressed than looking at Weeklys without a lot of volatility and trying to scrape together a winning position whether I am assigned or not. I was still looking at BAC up till a half hour before market open. I couldn't make the numbers work (without speculating on a price jump after buying) and still see a profit if Assigned, after factoring in commissions. Commissions at this small-dollar-play is so significant!
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