Sold some Corning Calls

Posted by BobL on 6/01/09 • Categorized as Trading

As I have stated many times on this blog, in our podcast, I LOVE Corning for the long haul. I have owned shares since 2002 and have done well. The shares did lose about half of their value from their ‘08 highs, however that was a result of the global economic malaise/turmoil/crisis.

This was a nice trade in terms of percentage gain. Bought at $1.80 (5/28) and sold at $2.10 (6/1). Just a few short trading days and the net (after transaction costs) was +13.65%.

I’ll take it. I moved my limit order up to $2.20 on my other GLW options. With the rally this morning, I could see being out of those rather soon. That would be a much larger gain since I purchased those contracts on last weeks pull back ($1.55 entry).

If I am taken out, I will be looking to get back in between ($1.85 – $1.95). SYMBOL: GLW KC (Month: Nov | Strike Price: 15 | Type: Calls)