DIA I started the morning by taking a profit. On October 17th I sold two November 83 puts (DAVWE) at $4.30 and received $848.50, today while trading DIA was trading at $88.02 I bought to close DAVWE at $3.50 and paid $711.49 with commissions. That gave me a realized profit of $137.01 for this trade. I’m still long (aka own) two December…
Month: October 2008
Sold MON, CHK & DRYS Covered Calls and one Naked Put
Today I’m feeling a little vindicated in my theory that missed the mark a little yesterday. The markets were down some for the day. I’m pulling some profit back in on covered calls I sold yesterday. With the reality settling in that the path back up won’t be a straight vertical line I sold more covered calls…
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…
Current Portfolio – October 20, 2008 – Pre-Market
I’m posting a screen shot of my current stock and option holdings before I start selling covered calls this week on my long stock positions. I closed out my last $25,000 remaining NPLXX money market I was using as cash back up and still have $8,993.35 on margin to start the day. I took naked put…
QQQQ Chart – October 17, 2008
I’m returning to chart the PowerShares QQQ Trust Series 1 (QQQQ) for the first time in a while. I only went back one month with today’s chart because I think I see the best story on such a short time frame. What I see (although it might be too early to be sure) is a…
Closed QCOM and USO Calls for a Profit and Added to DIA Position
I literally waited until the last minute today to finish my trades for this options’ expiration. My USO and QCOM call options were my only two that were near their options’ strike giving me a profit to work with. I’m accepting all other option assignments as the come. I blew off work for the final…
Sold New USO and AA Calls
Oil ETF USO has been killing me. This is one I should’ve bought puts on a long time ago when I thought it was coming down. I didn’t close my long position I had because I thought the drop would be brief. If I had the mindset earlier that I’ve developed recently I’d have bought…
Closed USO Long Puts
On Friday I bought some coverage for my USO position. I’m long 100 shares of USO and bought two puts to give myself some downside protection. While USO was trading at $61.22, my limit order hit to sell the puts. I sold to close both October 66 puts (UNAVN) for $5.20 each and received $1028.50 after…
Close XLB Position for a Profit
I bought insurance puts on XLB (Materials Select Sector SPDR Fund) at the beginning of last week and then sold XLB puts at a lower strike and nearer expiration a couple of days lower to cut my costs. I ended up profiting on both legs. The puts I sold expire in three days and the puts I…