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Friday, July 17, 2009

STEC Options Trade Update: Over 1000% Gain in 42 Days

As stated on July 14 in my blog post Research + IBD = HUGE Profit I was looking to get out of STEC Inc (STEC) on the 15th, but did not as stated in my blog post STEC Still Bullish. I May Let the Options Expire and Take the Stock. However, on July 16, 2009 I traded out of 80% of my call contracts for a gain of over 1000%. STEC has been on fire and I wanted to lock in this huge profit. I will allow my remaining option contracts to exercise, and I'll most likely begin writing out my shares Monday for the August 30-35 strike range. I sold the call contracts for $14.80 per share or $1480 per contract yesterday, a gain of 1020%.

As stated before, thanks to some tedious research, knowing which options to buy and when, and IBD I was able to pull this profit in just over 40 days.

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