ATPG, my cash cow!

Over the weekend I got assigned ATPG shares for the Nov $15 puts I sold. This morning, I turned over and sold shares at 15.08. I also sold ATPG Jan 2011 $14 puts for 1.3 to start the process again. I can feel my own greed. I can\'t help it. This is my 7th month to sell puts on ATPG, if I got assigned, my cost base would be $12.7. I also bought back some shares at 14.91 intended for short term trades.

All in all, I think I need to lower my leverage on ATPG. It is just that it looks like ATPG is bouncing back on its support nicely, the chart does look good. On the other hand, Sen. Mary Landrieu said that Interior Secretary Salazar will visit Louisiana on Monday “to meet with industry and express the administration’s support for the oil and gas industry, He will outline the path forward so that permits will be issued and the people of Louisiana can get back to work in this vital industry.” So it will be bullish at least short term for GOM oil and gas company. A few permits could be issued in near term.

http://fuelfix.com/txpotomac/2010/11/18/landrieu-backs-down-in-offshore-drilling-fight-with-white-house/