NEUROCHEM INC (NRMX) Covered Call Trade 4-10-07

I bought 100 shares of NRMX this morning and sold the Apr. 17.50 Call option for $2.15. The option expires on April 20th, so if the stock price does not reach or exceed 17.50 by 4-20 I will not be call out (asked to sell my 100 shares). Either way it doesn't matter to me as long as the staock price does go up some till 4-20. I will be selling NRMX on or around 4-21. My profit is already $215.00 plus how ever much the stocks goes up till 4-20, or minus how ever much the stock goes down till 4-20.

UPDATE 4-23-07: So I said I was going to sell my shares after the CC expired on 4-20. That would be today 4-23 that I was going to sell. I made $215.00 when I sold my CC. The stock is down a little over 3 points from where I bought it. So over all I am down about 100 bucks on this total trade. I am not selling my shares today cause it looks to be gaining some momentum and has gone up .34 cents so far today. I am going to let this one run and watch it for a while.

UPDATE 4-27-07: I sold my shares today. It's just not bouncing back enough to hold on to any longer, so I am letting this one go. The stock price is down from where I bought it, but I sold a Covered Call (CC) to generate income. Over all this trade was a 7% Loss. If I had never sold the CC this trade would have been a 20% loss. So you can see how CC's can protect your ass (ets)