At the beginning of the month I bought NASDAQ:SOLD at 9.11. 7.50 calls were going for 1.70, so I sold (issued) one. Actually, I had written the order for two, since I had calculated (911 - 170 = 741 < 750 == small win). But I needed 911 - (170 - 8) = 749 == insignificant win (options commission); or rather 911 - (170 - 16) = 757 == lose (options and stock commissions). When I finally was able to get at a computer again one of the two had sold, and I cancelled out the other one (should have done "all or none"!). In the end I bought it back for 2.55; because it was better to do so than not (when it peaked at 4.70 I was very annoyed at myself for being stupid and writing the call in the first place).
A few days after I bought it, the stock jumped up to over 10.00 (and on its way my standing order to sell the 10.00 call at 0.30 hit)... so 10% gain already. Then it went up past 12.00 a few days later (33% gain). I never saw it there, though; because by the time I woke up it had dropped back down to 11 (21% gain). It did some trickling down again, and finished this week at 9.91 (9.98 in after hours); which means the 10.00 call missed. So that money can be thought of as reducing the cost basis of my stock... either one lot down 0.22 per share, or all lots down 0.03 per share. So right now I'm looking at a gain of 9.98 - 9.11 + 0.03 = 0.83 per share = 9.9% over two weeks (man, I wish it was constantly repeatable); of course, when you take into account stupidity (MSFT, 7.50 call), I'm only up 7.1%. I went ahead and left some strategic limit orders in the event that it goes crazy again, though.
I was going to defend the cash advance I got for selling the 7.50 call by saying it gave me extra cash to put into NASDAQ:MSFT at 23.50; but since it's down even more from that, and the fact that I need the 7 shares to make up an 80 dollar loss; means I just lose. I really only did it to do something with the L1 options access I was granted on Fidelity a while back.
So it's not my intent really to do play-by-play most mortems on LJ... this is probably a one-time thing because I'm bored.