I got the Jan 15s for 75c. Brokerage fees worked out to about 2c this time. I used some of the money I made last month on AMD put writes and long calls to pay for these. I normally shy away from this. I like to keep my monthly profits as cash which stays as cash until I get assigned shares from put writing. My current position in AMD in relative % value:
stock (long) 80%
Nov 14 put (short) 2.5%
Nov 14 call (long) 2.5%
Jan 15 call (long) 15% (not all of this is from today's purchase)
AMD makes up a pretty small portion of my overall portfolio (although it has grown quickly due to the run up), but it does make up a significant portion of my 'play' portfolio.
Like I said this normally isn't my style, but AMD appears to be on a strong ride to $20, so I felt like gambling a little. If I double my money on the Jan calls, I'll sell half and let the other half ride it out. I haven't written off the november options yet either. I think this correction will be small and short.
HailMary
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