Dendreon went up $6 bucks today. So much for the $22 call.
That was an amazing ride. I bought on the crash from 27 to 24 that day. Then as it stabilized I wrote naked puts at 27 and 28.
When DNDN reached 35 I sold covered calls at 41. (All options Aug)
Today I sold the DNDN (39) and bought back the calls. Still short the August 27P & 28P.
I won't claim to be a genius since you all know better.
:-)
ij
PS - Writing calls above and naked puts below is something I like to do. I have found comfort in knowing that only one of the sides can bite me and the up side can't since those are covered. As the stock bounces around in between the strikes you can watch the time value erode or at least offset each other each day.
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