I originally had 5 calls, but due to a slight dip on Monday, I added 5 more to cost average. I only did this because I had enough time for the stock to comeback before the earnings report.
And as fortune would have it, it continued on its upward trend until Friday. ADSK had negative EPS for the previous quarters, and this quarter is forecasted to have a positive EPS. I'm not sure what that all means, but the effect is that the stock continues to climb.
But my main decision to sell was that with the new batch of calls, I had almost 10% of my portfolio in this position, and with the 35% rise, it was almost 15% of my portfolio.
According to my plan, I hope to have no more than 5% of my portfolio in any 1 position. So, with that, I decided to take profits. I still think ADSK has more room to run before earnings, but I needn't take any extra risk.
Always, have a plan for your positions and be sure to stick to your plans, whatever they may be...
I wish you much blessings and happy investing!
