After a large drop in the share price of Omnicare, I chose to buy back the June $27.5 call. I am currently reviewing Omnicare as part of my portfolio, and may sell a $25 June call in order to increase my likelihood of exiting the position. The increasing discussion of a nationalized health care plan is beginning to impact healthcare stocks in my opinion. The purchase info is below.
4/27/2009 -- Bought 100 OCR @ 26.465
4/27/2009 -- Sold To Open 1 OCR May $27.50 Call @ 1.25
5/15/2009 -- Call Option Expired
5/19/2009 -- Sold To Open 1 OCR June $27.5 Call @ 0.95
6/6/2009 -- Bought To Close 1 OCR June $27.5 Call @ 0.15
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $2646.50
If stock is called at expiration:
Downside Coverage (based on current share price): 1.6%
Possible Max Upside: N/A
Annualized Max Upside: N/A
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