My trade I wrote about from Monday on HAIN in my IRA worked out for me. I bought 6 cents from the nine month low and my limit to sell hit today for a $119.93 profit in three days. I sold at 27.05 and since then HAIN went on to hit 27.41. I can’t be upset over such a quick profit, especially when it was traded tax free in my IRA.
Now that HAIN broke through the trend line I had drawn from a fairly short perspective, the next line I see could take it as high as 28 before it has to slow to think about it again. I’m not getting in any deeper on it yet since I still have 200 shares I’m sitting on.
T is hitting against its 20 and 50 day moving averages. The current price could be a short-term ceiling. This is one of the reasons I don’t buy calls often. I don’t stomach the worries as easily on calls as I do with naked puts. I’m letting T ride a little longer in the hopes that it blows off the moving averages and sticks to the trading channel it’s been riding for a while.
Technorati Tags: investing, stocks, covered calls, options strategies, trade, naked puts