Close the Calls on FIO for a 27% Gain

We just closed the March 2014 $12 Calls on FIO at $3.50, for a gain of .75 from our entry price.  That is a 27% return in 6 calendar days.  

Fusion IO popped on the news that WDC was buying Virident, and that fueled speculation that FIO could get acquired by Seagate.  If you want to speculate on an acquisition and stay in this trade, you certainly can do that, however we would likely use a different strategy to profit on a buyout at an unknown time.  

For now, we're locking in the 27% gain!