My Job Loss + Current Portfolio Update

I’ve done almost no trading lately as I’ve tried to focus on my job in a feeble effort to recruit in a jobless recession and save my job.  I got confirmation today that we’re doing another layoff at the end of the month and I’m going to be part of it this time.  I expected it and was somewhat prepared, but it’s still a weird feeling to lose a job when all I do each day is speak to candidates who can’t find work.  I’m somewhat nervous and yet somewhat relieved at the same time.

I’ll be paid through the end of August, unless something odd happens with my boss’ mood and he rescinds his verbal commitment.  That will give me a little cushion to search for something new while I finish the summer off with some relaxation mixed in.  My wife is going to take a week off, so it’ll be part of a long overdue vacation too.  We aren’t going anywhere since money is about to get really tight.  I have one long shot opportunity in the works at one of our clients and another through a different connection that has maybe a 20% chance to work in the next 60 days.

My plans are to look for a new job, finish studying for the Series 65 exam, get my investment advisor business registered and get back into a regular trading routine.  My wife’s income covers most of our expenses.  We’ll cut back some on expenses and with unemployment we’ll be close to break even if not slightly ahead.  My blogs bring in a (very) little income and if I can keep making profits each month from this taxable account we shouldn’t have to touch our principle.  After this month we’ll be close to our $2,000 deductibles for each of us on medical insurance, so through the end of the year no new big medical bills should hit us.

I’ll probably take profits a little earlier than I have in the past, might make more short term trades, but most likely will stick with what has worked for me this year – selling options.  I listed my current stock and option holdings below.  All are set to expire out of the money.  I’ll probably sell new options tomorrow as I see my current options expiring worthless.  I’m behind on my research, so I don’t plan to get too aggressive to fast.

Options

Long 5 – CVS Jul 28 Puts
Short 4 – ALL Jul 24 Puts
Short 5 - CVS Jul 30 Puts
Short 1 - MON Jul 80 Calls
Short 3 - NDAQ Jul 20 Puts
Short 2 - SLB Jul 55 Calls

Stock

Long 100 MONSANTO CO COM (MON)
Long 200 SCHLUMBERGER LTD COM (SLB)