Thursday, November 13, 2008

Rebuilding positions before the rally

I caught a bit of lucky timing this morning, as I rebuilt three positions in the pre-market trading session. The price execution was poor, as was to be expected in light pre-market volume, but all three were gainers by the end of today's spike higher. I bought common stock in Alvarion (common 4.3% of portfolio, calls 2.0%), Ensco (common 4.6% of portfolio, calls 0.1%), and Oplink (common 4.6% of portfolio, calls 1.9%). Since my calls in all three expire (possibly worthless) in January 2009, these new purchases will form core positions of common stock.