I closed my Arena Pharmaceutical Sept 5 PUTS at .10 today. I didn't wait for them to expire worthless just in case, and I think it was a good call considering ARNA closed just over 5 today. Not a bad trading since I sold them at .65 last Friday...
I was going to play a covered call, but the Put premiums were great and I was bullish on the stock to start so it was the right play. No money out and all money in...
Happy Trading...
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