While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to 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.
This update applies to you if you followed the alert on FEYE from the September 19th.
Had you followed that alert, you would be short the $17 call that expires today.
As I write this, FEYE is trading around $16.95 or 5 cents under the strike.
My suggestion is to leave the position alone.
If FEYE closes today above $17, the calls will be assigned and you will sell your shares at $17.
If FEYE settles under $17, you will keep your shares.
In either scenario, you keep the profit you made when you sold the calls.
If the calls are not exercised today, I will look to sell another round next week.