Sell Alert: September 20, 2013
Sell Alert: September 20, 2013
Trade Details
Sell Broadcom (BRCM) September $38 Calls for any price above zero
Why?
Looks like we may get a chance to salvage something from our BRCM trade after all. The stock jumped this morning and our calls are now in the money.
Okay, this is important. Unless you want to own BRCM shares in your account, you have to sell out the calls today. If the calls expire in the money, your broker will automatically execute them upon expiration. You’ll then own 100 shares of BRCM for every call you have. Plus, you’ll have to have enough money in your account to cover those shares. So – be sure to sell out the calls at any amount above zero.
If BRCM drops back below $28 by the time you receive this, you don’t have to sell you calls out. However, I’d just get rid of them anyways. You don’t want to have to worry if the stock suddenly surges above $28 right at the close.
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Category: OTW Sell Alerts
