The Money Tree

Safely Generating Income in Retirement

Trade Update – GME

Posted by mounddweller on July 25, 2012

Fellow Traders,

I want to give you an update on my GME trade.  You’ll recall I originally opened this trade by selling 6 JUN $18 puts.  As JUN expiration approached I rolled half of my position out to JUL $18 and the other half down and out to the JUL $17.  Earlier this month I bought to close the $18 puts.  At JUL expiration I decided to let the stock be put to me at $17.

Today I sold to open the AUG $17 calls for $0.28.

If my stock is called away at AUG expiration I will close the position with a small net profit equal to a ROIC of 2.36%.  If the calls expire OTM I will continue to sell calls until called away.

Regards,

Troy

3 Responses to “Trade Update – GME”

  1. Irene said

    Thomas Kelly Appointed to GameStop Board of Directors
    http://canadianbusinessb.websol.barchart.com/?module=news&storyID=5710476

    • troy said

      Thanks Irene! I think Mr. Kelly’s wireless communications experience speaks volumes about where the company and the industry are headed.

  2. […] Trade Update – GME […]

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