AT&T (T) Call Buying Update

After buying my four July 40 calls on T for $0.30 I put a limit in to sell two of them at $0.70 to at least get me back to break even if it went up and came back down.  That order hit near the end of the day yesterday and T kept climbing.  I’m only sitting on an investment of $4.50 now and will continue to let these other two calls “ride” until T gets closer to the top of the upper trend line I previously identified. I got nervous for a little while yesterday that T might falter, but the timing was dead on and now I can sit back with less fear of losing no more than a paper gain. My option is now $0.78 ITM and the call is trading for $1.00.  Yes, this is greed setting in when I could go ahead and take a $200 profit and be done. 

The coolest part of this trade and my other positions is the massive jump I’ve had over the past couple of weeks.  I looked at my balance I posted here on 6/30 (I know, I’ve been slack on updating) and see I’ve gained $2,778 since then.  I also deposited $2500 on July 2nd which brings my balance over $60k.  I’m incredibly psyched about this considering my original high hope for the end of the year was to reach $60,000.  Considering that I’ve been told my job is being eliminated by the end of this year, I’m happy to have this cooking until then.

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