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.
Yesterday, you should have closed out this week's call option.
Today, I am going to suggest you roll out and sell next week's calls.
My suggestion is to Sell to Open (1) September 30th-$14 call for every 100 shares you own.
You should be able to sell them for $.26.
Based on a sale at $.26, you will have collected 10.5% of the purchase price by selling call options.
Do this trade only if you are long the stock.