NaughtyPines

OPENING: GSAT COVERED CALL

AMEX:GSAT   GLOBALSTAR INC
Okay, okay, okay ... . It is likely that this company is a ginormous turd pile, but the implied volatility in it is high, so I'm pulling the trigger here on it as a small speculative trade.

Metrics:

Bought 100 Shares at 1.61
Sold Oct             21st 2 call
Whole Package: 1.37 db            
Max Profit: $63
ROC: 46%
Comment: Covering: 2 calls for a .05 ($5) debit and Opening: Nov 18th 1.5 calls for a .20 ($20) credit, further reducing my cost basis in my turdy stock.
Comment: The 1.5 call is still above my cost basis ... . Lol.
Comment: Covering Nov 18th 2 calls for a .05 ($5) debit and Opening: April 1.5 calls for a .25 ($25)/contract credit. Current cost basis is $1.07/share, a penny above where price is at now. Lol.
Comment: Covering: another tax loss cover. It looks like it's headed for delisting, and it's become tough to work the short call side, so adios!
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