Why not sell calls against it? Wish I did that when I had a leap on the Japan index.
You will get a P&L profile to watch too.
Ross
--- On Thu, 7/23/09, Rob Hansen <robhansen5252@
> From: Rob Hansen <robhansen5252@
> Subject: [TheOptionClub.
> To: OptionClub@yahoogro
> Date: Thursday, July 23, 2009, 12:27 AM
> I've been stuck with a leap position
> in GBX left over from the days I was experimenting with CSE
> techniques. I owned the stock, was selling calls
> against it, but then the stock just tanked. One of the
> CSE techniques of rescuing the trade involved exchanging the
> stock for a leap, and now I am stuck with 10 of the GBX
> Jan10_20calls. My cost basis is $8.84 and it is now at
> 0 bid, .30 ask. The leaps were purchased in March of
> '08. I haven't done anything with this position since
> last September except to watch theta eat away at it while
> the price of the stock continued to sink. Anyway, is
> there anything I can do with this position to maybe generate
> a pittance of income until it expires? Any ideas at
> all?
>
> Thanks,
> RFH
>
>
>
>
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