NaughtyPines

OPENING: MIFI COVERED CALL

NASDAQ:MIFI   NOVATEL WIRELESS INC
I'm working a lot of these out of a "weenie" account, so a lot of these are going to be "weenie" sub-$10 plays ... .

Metrics:

Bought 100 Shares at 3.30
Sold Oct 21st 4 call
Whole Package: 2.95 db             (2.95/share is my cost basis)
Max Profit: $105 (if called away at $4)
ROC: 35.6%
Trade closed manually: Covering this at open for a 3.24 credit on this pop. Net profit $22/contract (7.5% ROC). Small winner that I'm frankly glad to see the back of; it isn't the most liquid thing in the world.
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