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just thinking out loud here
holding a LEAPS on MU at $60 strike, June 2022 exp
been selling CC's against it
but I made the mistake of selling too low of a strike when MU was down
now the short call is deep in the money ($82.5 strike, current share price around $95)
i was going to ride it out until mid January and then try to roll it out but I just got notice that MU is going ex-dividend tomorrow
so I'm most likely going to be assigned early
buying back the short call would cost about $1245 (a $645 loss)
but I don't have enough cash in the account to do this
so i'd have to either sell off other assets
or
just close my entire position
i do come out ahead overall ... but I am bullish on MU and didn't want to sell the $60 call
the plan was to sell some more CC's and then exercise the $60 call
i guess I could close the position and buy back a $65 or $70 instead
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2008 E90 M3 / LCI trunk + euro tail swap
Production date - 2008-04-22 |