Option Writers Newsletter, Thursday, 10/20/2005 11:11:37 PM ET
WATCH MYOG UNTIL CLOSE
by Steve Gail
HAVING TROUBLE PRINTING?
WATCH LIST - MYOG
HOLDING MYOG OCT 20 PUT RIGHT UP TO THE CLOSE ON FRIDAY
With this being the last day until October expiration we are going to
hold our MYOG OCT 20 PUT until the close. The Stock is currently
trading at 19.54 and is in money only $0.46, however
since we received $0.85 for the option, we are going to hold it until
the close tomorrow and close out at market at whatever price on closing. However
if MYOG closes above $20 the option will expire worthles.
Subcribers may choose to close out the MYOG position tomorrow by
buying back the put anytime during tomorrow for whatever the market
price it is trading( currently between $0.50 - $0.70), or placing a stop or stop limit around $0.85, for a breakeven, however option writer will carry the position until the close on Friday and either buy back at market on close or have the option close above $20 and expire worhtless
WE ARE HOLDING this position until the close. on FRIDAY...The breakeven is $19.15 on the trade We will risk it for the one day, especially after the market being
down so sharply on Thursday, we are looking for a bounce or flat tomorrow until close.
ONCE AGAIN, WE ARE HOLDING THIS CURRENT POSITION UNTIL THE CLOSE ON FRIDAY!!
MYOG OCT $20.00 PUT QJV-VD holding until close on Friday