New Intraday High for EMC Corp
October 2, 2007 | Posted by Jorge EMC Corp. (EMC) hit a new intraday high of $21.39. As a result, I’ve closed out the rest of my options contracts with EMC. Here’s a breakdown of how my options calls performed:
EMCJT – EMC Oct 19 Calls
- 9/13 – BTO 5 @ 1.40
- 9/14 – BTO 5 @ 1.00
- 9/20 – BTO 5 @ 0.70
- 9/24 – STC 3 @ 1.35
- 9/25 – STC 1 @ 1.90
- 10/1 – STC 6 @ 2.00
- 10/2 – STC 5 @ 2.45
- Total Cost to Open (including fees) : $1,569.50
- Total Proceeds on Close (including fees): $2,996.95
- Return on Investment : 87.7%
That’s not a bad rate of return. The EMC calls almost doubled my entire portfolio. Could I have not sold some contracts as quickly as I did? Yes. But I wanted to preserve some profits and not become greedy in the event EMC pulled back. It didn’t but I have no regrets on how I played the options contracts which is the biggest emotional issue to deal with. The trades have been closed out and now it’s time to move on.
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