There is one more week left on the Arena Pharma trade. The trade is currently Code Yellow. The stock closed the week at $9.66. That is a rise of $0.66 for the week. The Jan $10.00 call ask price closed the week at $0.23. That is a rise of $0.09 for the week.
Possibilities abound for next week with this trade. Sell The Call will be watching closely during the week to see if the trade does move into Code Green territory. If that is the case, the option of buying the call back and selling a later one is a possibility. Letting the trade end Code Green is also a possibility. If the trade does not end in Code Green status, the plan is to sell a February call.
Previous covered call trades have been made in AA, OCZ, YHOO, ZAGG, LLEN, CLSN, EDMC, EXAS, ARIA
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