As discussed in my previous post regarding this position, I went ahead and sold a June $25 call on OCR in an effort to close the position. If the position closes out of the money on expiration day I wont be too disappointed as it will have further lowered my basis, and I dont think the stock would fall much further (knock on wood). 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
6/9/2009 -- Sold To Open 1 OCR June $25 Call @ 0.45
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): 1.8%
Possible Max Upside: 5.2%
Annualized Max Upside: 35.13%
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