The trade I described is really just for traders who could settle for a 66% annualized return. I made clear that I am not one of them.
I'm in this for the long term and won't sell calls against my position for quite awhile, precisely because of the remorse factor. Still, there are plenty of folks out there that have enough stock, they won't miss their bit of called stock, or others that could care less emotionally and would be happy their conservative 66% return strategy worked.
Of course, it's a way to get to a $2 price point on your underlying stock if Ariad really tanks, but I think we agree, that is a very remote chance.
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