Covered Call Crazy: CELG, CMI, FCX, JOYG, QCOM, TDW, USO

I had a busy morning trying to get in some trades while juggling work. With the fear that the market would decide that going up wasn’t the best idea yet, I started selling covered calls. I sold some of these too early and could have done better on prices if I had waited a few hours.  For this post, I’m just documenting what I did and will update the reasons within a couple of days when I can find more time.

• While CELG was trading at $54.35, I sold 2 CELG November 55 covered calls (LQHKK) at $3.60 and received $708.5 after commissons.
• While QCOM was trading at $$38.92, I sold 2 QCOM November $37.50 covered calls (AAOKU) at $3.70 and received $728.5 after commissions. Note, I sold this one in the money.
• While USO was trading at $60.84, I sold 2 November 63 covered calls (USOKX) at $3.60 and received $708.5 after commissions.
• While FCX was trading at $35.38, I sold 2 FCX November 40 covered calls (FCXKH) at $2.65 and I received $518.50 after commissions.
• While TDW was trading at $37.31, I sold 2 TDW November 40 covered calls (TDWKH) at $2.40 and received $468.5 after commissions.
• While JOYG was trading at $26.48, I sold 1 JOYG November 25 covered call (JQYKZ) at $3.80 and received $369.25 after commisssions.  Note, I sold this one in the money today.  I’m also deep in the money on two November 40 naked puts, so if JOYG rallies, I’ll make back money that I’m losing on now.  If it falls deeper, I’ll be happy to have sold this one call in the money.
• While CMI was trading at $33.78, I sold 2 CMI December 35 covered calls (CMILG) at $4.70 and received $928.5 after commissions.

I finished the day with only $4,563.10 on margin, almost half of what I started the day with.  I have MON, DRYS and CHK remaining in my account long with no covered calls sold on them yet.  I have limit orders scheduled to hit on each of them if/when they climb more.