I was heavily invested in Wachovia when I heard their price had dropped to $1 per share. I was so shocked by what had happened, I was just disappointed–too disappointed to realize that maybe it was the time to buy. Of course at that time you never know. Is it at $1 because it’s really worthless?
(01:30:34 PM) Ryan: you know you can make 33% by selling options on BAC for next Jan
(01:30:50 PM) Angelo: how?
(01:31:03 PM) Angelo: to buy at $20 ?
(01:31:11 PM) Ryan: you can sell the right to buy BAC from you for $15 a share. You can charge a person $5 for that right
(01:31:28 PM) Angelo: yeah
(01:31:31 PM) Ryan: you just have to buy BAC at 15 and hold it for a year
(01:31:37 PM) Angelo: for a year
(01:31:40 PM) Angelo: ok
(01:31:52 PM) Angelo: Do I have to give them the dividends too?
(01:32:16 PM) Angelo: that’s a pretty sweet deal
(01:32:32 PM) Ryan: not sure, I don’t think so
(01:34:42 PM) Angelo: but I’m sort of taking the risk of BAC fails
(01:36:42 PM) Ryan: you and me both 
(01:37:24 PM) Angelo: 33% is pretty good though
(01:38:18 PM) Angelo: what are the options on WB?
(01:39:21 PM) Ryan: just take a look at yahoo finance, there are tons to pick from
(01:39:32 PM) Ryan: basically you get 1.65 for a $5 strike price
(01:40:17 PM) Angelo: hmm
(01:40:21 PM) Angelo: that’s not quite as good
(01:40:41 PM) Ryan: actually 1.65/5 is .33
(01:41:13 PM) Ryan: actually C is the best
(01:41:36 PM) Ryan: that one is over 40% if C stays above 10!
