I was still not exercised, but it looks like tonight our CELG options will be exercised. Monday, we will be selling the February $120 calls. We will have 200 CELG shares, therefore we will sell 2 calls. Right now they are priced at ~$1.18, but we will see their price on Monday.
If you remember, we sold the Jan. put at $1.65. That means at this point with CELG trading at ~114.50, we are up by $1.15/share. If you had purchased the shares at $115, you would be down $.50/share. This is the advantage to selling puts.
Dave’s stop was $110, but more commentary on that soon, as well as February’s Dave-Trading article.