Sold CMI September Naked Calls

As I mentioned in my previous post I had an order on CMI. While CMI was trading at $55.50, I sold two CMI September Naked Calls (CDMIL) for $0.55 each and received $98.50 after commissions. CMI closed the day at $57.36, so clearly I didn’t sell my new options at the high of the day. If the powers-that-be favor me this week, CMI will close very close to $60 and I’ll profit on both these calls and the naked puts I sold earlier.

I ended up taking in nearly $500 in premiums today from my three trades and have three days to wait to see if those were foolish moves in an effort to save some losses. I finished the day up $267.50 for the day, up about $4500 from my intraday low.

Read more on Cummins at Wikinvest

« « Sold AA and VIP Calls to Cut Losses - | - Sponsored Post: Eminiforecaster » »

Comments Off

* If you like this post, then consider subscribing to the Full RSS feed or email updates.

DISCLAIMER: While I am a Registered Investment Advisor Representative, the information contained within this site does not constitue personalized investment advice. This material is meant as entertainment and is only a view into how I invest my own account, but not necessarily how you should invest your own funds. Trade using your own research at your own risk. This is impersonal investment advice which means the material written here, in email exchanges, on Twitter and/or other social networking sites do not purport to meet the objectives or needs of specific individuals or accounts.