I created a new page that I’ll be using as my scratch pad for new option trade ideas on stocks I’ve read about through various sources. The format isn’t set with how I’m starting it now, but I expect to list the ticker, date and source from where I found the idea. As I read various…
Month: June 2008
Dow Jones ($DJI) Chart – June 6, 2008
I left the day on Friday thinking we had a long rough road coming for this market. Now I’m not sure since I charted the Dow Jones Industrial Average (aka DJIA and ticker $DJI). The DJIA closed the week at the point of two trend lines that could offer some support. Aside from the lines that…
Closed SPY Calls for a Loss
Lots of bad news (oil up, unemployment up, dollar down) hit the markets before the market’s open as we all saw. Immediately I thought about the SPY calls I should’ve closed yesterday before market close. I had a ~30% gain in the bag, but stayed greedy and hoped for more. The SPY June 142 calls (SFBFL) that I bought for…
Bought More SPY Calls & Sold ETN Naked Put
Yesterday I saw the S&P 500 index ETF, SPY, was down since I sold the last couple of calls I had and it was on its trend line of higher lows. This would typically make it an ideal time to buy calls, like a couple of weeks ago when I did it and made a…
Sold JOYG Naked Put
I’ve traded Joy Global Inc (JOYG) in the past and decided to come back to it and sell out of the money puts. I put my order in over a week ago and as I went through my open limits yesterday I saw that my order was far from hitting based on the price I…
Freeport-McMoRan Copper & Gold Inc (FCX) – Sold Naked Put
Barron’s highlighted FCX in the June 2nd issue in an article about social network stock pickers. From Marketocracy.com, T.J. White has done well with FCX. I charted it on Monday after close and thought he had a good idea going. FCX has been trading below its 10 and 20 day moving averages, but is a few points…
Month End Summary – May 2008
May 2008 was another good month for me. As I wrote after May’s options expiration, almost all of my options expired worthless giving me full profit and I reached my investing milestone early. I moved back to a positive 12 month return, once again better than all major indices. My current account value according to Quicken is $94,669.39…
Oil ETF – USO Chart – May 30, 2008
For the first time in my weekly charting series I’ve decided to chart one of the major Oil ETFs, United States Oil Fund LP (AMEX: USO). Clearly I should’ve done this earlier and possibly could have made some good trades on it. I think everyone is aware of the rise in oil prices. The questions…