IDCC CC

There are a lot of C's in that title, but that is no mistake - yesterday, I sold a March '08 covered call (with a strike of 20) on IDCC for 0.25, taking advantage of its strong rebound. It is fully possible for the stock to appreciate another 12% in the next two weeks, but in that case, I would be more than happy to sell my shares and buy it again on a dip.

ABK @ 12.4

I got into ABK again and held on for a little too long (i.e. more than 5 minutes). I'm unwilling to sell for a loss, since I'm confident that this deal is going to happen. And a 40% short float is pretty attractive. I've basically gotten fucked for 4 days in a row as Financials have crashed. ABK is going to be a great catalyst for the sector's comeback.

I also feel like I missed out on covered call writing this month. I kept trying to time the market and catch the big rebound, but it never came. I should have just sold the calls and collected the time premium. A good lesson!