Wednesday, October 28, 2009
Out and back into IEF
The recent downturn in equities has been accompanied by bond prices increasing. My IEF position had already given 80% of its maximum profit, so I closed it out for a net value of 89.93. With only 3 trading days left, it doesn't feel too risky to re-establish the position with 91 calls--again, hoping for option assignment, but ok if I get the ~.25 dividend. Net investment was 90.81 per share. If I had been thinking I could have just rolled the options up a $1, but with the combo orders I used the commission is not much different than a straight option order.
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