Up 300% on VMW in Three Days? Sell!

Okay, so in the still better to be lucky than good category, we sorta nailed that VMW near-term bottom on Monday when the stock was at $73, eh? The stock's trading at $92 this morning. Momo is a sharp knife!

If you bought most any out-of-the-money January or February calls in VMW, you've got a triple or quadruple in them in three days' time. You ever heard that old saying on Wall Street that bulls make money, bears make money, but pigs get slaughtered?

Don't be piggy. Keep the common for an investment, but start selling those calls right now. Take half off the table today. Sell another 1/4 of them tomorrow. And let the last tranche ride til expiration in January or February and maybe you can roll 'em up then.