Bought to close ENDP 7/8 expiration $17.50 strike calls
Bought 10 contracts of ENDP 7/8 17.50 strike calls at $0.2. This closes the short position originally entered on 7/7 at $0.35. Total return less commission was $134.55. Return per share after commission was $0.13.
Ok, so this got closed a lot quicker than I thought. ENDP closed yesterday at $17.10, this morning, before I sold short the calls, it shot to $17.67 (+3.3%), then it fell to $16.75 (-2.0%), before rallying back to $17.33 (+1.3%). As I saw the stock recover in the afternoon, I kept trying to close the short for $0.20, until I finally got filled.
This stock has two overhead “attractors”, the declining 50 day SMA at 17.69 and the huge gap, between $18.29 and $25.80, which was created by the missed earnings report in May. My thinking is that if the stock can get over the 50SMA, then the gap will come into play. It would obviously make for a great opportunity.