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November 24th, 2009 at 2:45 pm
Hi, Morx RE JNJ called away:
I didn’t have the stock. I have JNJ Jan 2011 55/60 call spreads, and I am selling front month calls/puts. So, getting called away meant I got a short sell position. I had to buy JNJ to cover the short sell, which ate away some of my profits.
Damn!