So it came out on Friday that HRBN's accounting firm was cooking the books for another Chinese company as a result HRBN dropped bigtime and I let the call expired worthless. I had a chance early to dump, but didn't think it would tank that bad. I think I will stay away. Accounting issues are something I want nothing to do with and I'll take my lumps and walk away. I still think if you have the cojones its interesting option; a $7 gain on $17 if the deal still goes through, which is a nice percentage, but I think your risk on the downside is 90% should this deal now also fall. I may in a day throw in for a 20 Option for June, but only if I think the price is right. Its a risk, maybe even a gamble at this point, but a part of me is still a believer.
In other news I will be putting up the TCK Jan option again as Coal continues to move up and I think is overdue for a correction. After ANR's move Friday I can't see getting back in there for a while. Its now in rarefied air, and I don't have a good feeling which way it'll go. I'm a buyer in the low 40's again, but right now I'm just watching.
I took some loss on some other DGIT options and exercised a couple so I'm over heavy on DGIT again. I'll sell some covered calls on a good day this week; otherwise I'll look to move shares on a move up. I'm looking for 30 by the end of December. I have no stops in place currently.
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