Wednesday, April 18, 2007

Roll up and out C Citigroup calls

Roll up and out C Citigroup calls. Buy back the short Apr 50 calls, sell the May 52.5. The calls trade for less than it would cost to exit and get back in. The stock recently reported good earnings, so I roll over to the next month. C also goes ex-dividend in early May.

BA Boeing up nicely after an $5.4 billion order for new 787s is announced. The troubles at Airbus are another reason to believe Boeing will do well going forward.

Longs: BA, FLR
Hedged: C, CHRW, GDX, the last two are likely to be called away this Friday, unless I roll the calls up and out like I just did for C.

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