re: Crashy shorts NAB... right strategy but
Crashy This stock is up from $34.50 to $35.68 (today) in the last 5 trading sessions. Whilst you might be able to buy the options back you may well get a call from your broker tomorrow "calling you up" as the options can be excersised any time up to expirey. Thats $142,720 at todays closing price in stock you will be required to come up with. Dont get me wrong I think your strategy is fine but I think you have written the calls a little too tight. They are already .18c in the money. You said to Michealmou what would be the impetus for the break of resistance. I think about $1.5B in buyback money might do the trick. They are able to purchase back up to $37 and some cents under the terms of the buyback and if they buy back now they save 72c on every share. Please dont alter your trade as a result of this/me but be mindful of the consequences. My advice for what its worth-roll them out tomorrow to July $37 calls for an approx reduction of $400 in the premium you have collected or wait a few days you may get a straight swap less brokerage of course. Good Luck
Fitzman
NAB Price at posting:
0.0¢ Sentiment: None Disclosure: Held
