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Archive for July 17th, 2010

MYGN Update

Posted by mounddweller on July 17, 2010

All,

I have an update on my position in MYGN.  As you’ll recall MYGN came up on my VISIONS scan back in late March.  I executed a buy/write at around $24.68.  The APR $25 calls expired so I wrote the MAY $25 calls.  These also expired about the same time as the bottom fell out of the stock.  Since May it has fallen to as low as $14.29 before recoving back into $15+. 

It seems to me MYGN may have found a bottom.  Accordingly, I decided on Friday to sell 2 AUG $15 puts for $0.60.  If I have MYGN put to me at $15 at AUG expiration I will own 500 shares with a net cost basis of $19.96.  If my AUG puts expire OTM I will sell another round with a SEP expiration. 

Regards,

Troy

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