Monday, November 09, 2009

Hutchison Whampoa - sold

This morning I sold my shares in Hutchison Whampoa (13) at HK$54.00. The purchase price was HK$50.20 on 15 May . My net profit (after transaction costs) was about 6.9%.

While Hutchison Whampoa remains a solid company I wish to include in the portfolio, the equity put option I wrote on 21 October has a strike price of $58.75. Given where the market is now, it is highly likely that the option will be exercised against me at the end of the month leaving me seriously overweight in one share.

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