Bought to Close JASO Sep 5 Puts
September 16th, 2009
I bought to close the September JASO puts I was short. A couple days ago I was nearly ready to close out with a loss, but JASO (JA Solar) managed a stellar comeback. JASO has a pretty good chance of making it up to the $4.80 area but I didn’t feel like holding with only 2 more days until expiration. I wanted to grab a profit while I still had it.
I sold these back on July 23rd at .85 and bought them back at .55. That is a net return of 6.00% for about 7 weeks. *
JASO Hourly
* This is based on the premium I received from the sale of the options (less commissions) and the capital set aside to pay for their possible assignment.