Tuesday, June 1, 2010

Sold newly put GSK shares

I sold the GSK shares I was put for $34.10 (they cost me $33.50; the $35 strike minus the $1.50 premium). I made the option trade because it was an unusually good option premium for such a short time frame (four days, from May 20th to May 24th).

I sold the shares because I already have sufficient exposure via 2012 $40 strike calls.