– by Don Fanstone, Kitchener/Waterloo User Group
I chose to take my profits in the CGI May 38 Call Option today (Wednesday), selling the Option at $9.85. It was purchased on Jan. 8 at $7.45.
CGI has risen very quickly. Nothing goes straight up for too long. The stock may continue to rise and if so, I will be leaving money on the table. One has to learn to be happy with their own decisions and I have found that being “Greedy” and looking for a little more has usually left me with a reversal and generally unhappiness. Small profits add up.
There will be further opportunities to invest and prosper.
CNR rose strongly today as did IPL, VET, and CNQ. Tomorrow, depending on the market, I may add to my holding in Enbridge (ENB) July 52’s.
With the action by the Bank of Canada to day and the possibility of the European Central bank initiating Quantitative Easing tomorrow (June 22), we could see another UP day.
DISCLAIMER: Options trading involves risk and is not suitable for everyone. The information contained in this Blog is for education and information purposes only. Example trades should not be considered as recommendations. Options training is strongly recommended before placing any trades. VectorVest offers a basic options course online and occasional intermediate options workshops in Canada each year.
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