I didn’t have any options remaining for October by the time today’s expiration rolled around, so I’m taking the opportunity to give an update on my current positions. My account value is up to $112,278.78. I have $26,990.78 in cash, which means I have roughly $32,500 in naked puts that I can’t cover with cash…
Month: October 2015
Rolled TLT Naked Calls Out and Up
As I mentioned the other day, I reached my limit for selling naked calls on TLT. So, I had to close some of my current short calls to open up margin. While TLT was trading at $122.54, I bought to close 10 TLT October $125 naked calls for $0.19 and paid $196.07 including $6.07 in…
Sold SPY & MDY December Covered Calls
I’ve enjoyed the rally over the past week and the fact that my account balance is back to within about 2% of my highs of the year. Since we’ve just had a strong multi-day bounce off the recent lows, I figured that we didn’t have too much more upside in the immediate future. I started looking for…
SPY – 3 Month Chart – Monday is Key
The chart below shows the daily prices for the past three months on SPY, an S&P 500 Index ETF, after closing the week at $195.00 on October 2, 2015. For some traders, the tantrum seemed over. SPY had finally had its long-overdue correction with a 14.7% drop from an intraday high of $213.78 in May. To technical traders, the recovery seemed false…
End of the Month Summary – September 2015
September pushed my account value lower, but I’m still leading the indexes for the year-to-date by a wide margin. I took profits on my hedges in September and left money on the table since I didn’t sell my puts at the bottom. I could’ve made a few hundred dollars more on both my IWM and SPY…