Long time readers will know that I’m carrying DDM as baggage in my portfolio and although I’m holding from a high of $74 I have been selling calls and they’ve pretty much been expiring worthless. Today I sold 4 contracts for Apr 2011 $50 strikes on DDM for $4.00 to rake in about $1,600 and I did so because I expect the market to tank sometime between now and end of year. If so I will probably buy back my options but if not, I’ll be happy to unload this ETF holding. So far I’ve made $3,100 holding this garbage and I’ve dollar cost averaged to a break even of $65.75 but that doesn’t include dividends.
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