Turned the Dec 17 call, closing it out for $.05. I sold the calls for $.80 minus commissions – puts me around a 1200% return. I like the 17.00 calls since the 6 month high for YHOO is 16.79. I’m looking ahead to see what I can collect for January 17.50 calls, thinking I might be able to get around $.60. The other option is to sell the next strike price up, 16.00, free up some cash and start selling the 14.00 puts.
Disclaimer: Yeah, I like YHOO right now, but this is not investment advice.