While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to the six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three-day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Let's go ahead and sell calls against the FCX position.
FCX is trading around $12.78 as I write this.
You can sell the March 29th - $13 call for 24 cents.
My suggestion is to go ahead and take the premium.
This will bring the premium collected on this position to 48 cents.
