Visa had a decent run up lately and I decided to harvest the profit in my LEAP position. Sold to close Visa for +16.50 credit. Original debit to open was -9.75 for a profit of +6.75. ROR of +69.23% in 8 days. Very Sweet!
May 6, 2008
April 29, 2008
OPEN: LEAP – JAN 10 VISA (V) 100 Call
I’m quite bullish on VISA for the long term. I think that V could easily trade over $100 by the end of the year. I opened an OTM LEAP Jan 2010 expiry 100-strike call option on VISA @ $9.75.
This is a speculative trade, so, only have a small position. I will be writing front month call options against this LEAP to harvest more premium.
