April Trades

Trades:

• Sold 5x DNDN Covered Call May 19th Strike 14.00 @ 0.40
• Queued Buy-To-Close at 0.20

Gut Check:

• Missed the brief window where the April 27th Strike 12.00 was at 0.10. Oh well.
• Price of DNDN was down pre-market, and down in the morning. I queued a close at 0.20 in case the price really drops, and in any case I might close prior to May 7th, especially if the price has gone down a lot. The conference call to go through Quarter 1 earnings could swing prices either way.
• Funded account 5000 CAD. It should go through by next week and I'll transfer it over to the TFSA.
• Not sure what to buy yet but I'm thinking of a 1 Billion+ market cap stock that pays more than 8% dividend and can yield 1% selling On-The-Money Covered Calls.
• I'm hoping I can more than break even on my loss earlier this week. To come out with even 1% for the April to May options period would be very nice.
• DNDN could very well close below 11.00 today.
• That would be so goddamned irritating, after I exited my Strike 11.00 call at 0.55! Even now, the morning of the last day, it is close to 0.40 to exit. So I wasn't far off.
• But if it closes below 11.00, there wouldn't have been a need to close the position at all. On the other hand, I don't think I would have liked to cut things quite so closely, especially when it had been very high most of Thursday, threatening to go to 12.00.