I left to go out of town on Friday around 3:00 in the afternoon when the Dow ($INDU) was only in its early slide that knocked out over 250 points in the last two hours of the day. When I shut my computer down, the Dow was down less than 100 points, above the support line…
Month: August 2007
Chipotle (CMG) Looks Tasty
Jim Cramer went crazy about Chipotle (CMG) last night on Mad Money. The stock has taken off since earnings were announced this week and it gapped up to a new high yesterday. The option premiums are rich due to the high implied volatility for puts. I have an order in to sell a naked put well OTM on…
Comcast (CMCSA) Option Trade
Last week CMCSA fell after earnings were announced and I wrote about my potential trade on it. While CMCSA was trading at 25.84 this morning, my limit hit that I entered five days ago for four September 25 puts (CCQUE). I received $287 after commissions. I wrote it far OTM because I expected the slide…
Month End Summary – July 2007
I had a fairly good July, even with the rough final week. My annualized gain year to date is 27.74%. That’s down from the 40+% I was running for most of the first half of the year. I was expecting a decliine since I’m not investing as deeply as I was earlier with my increased…
Marathon Oil (MRO) Covered Calls
With less than a minute to go in trading yesterday I changed my limit order for two MRO September 60 calls (MROIL) from 1.60 to 1.50 and it hit immediately. I received $288.50 after commissions. MRO is a stock that was assigned to me in July from July 62 naked puts that finished ITM. I had an opportunity…