Stupid bonds! TLT is making February a rough month for me. At this morning’s high, it was up more than $6 from where it finished January. I dealt with a lot of the risk when I hedged a couple of weeks ago, but it still isn’t fun to see my account down so much while I…
Month: February 2016
Options Expiration – February 2016
I only had two options expire today. The big one was on TLT where I have 10 TLT February $124 calls that will be assigned. I’ll be forced to sell 1,000 shares of TLT that I do not own at $124 while TLT finished the day at $131.01. My cost per share will be higher…
Added Another TLT Ratio Spread
The TLT ratio spread that I opened yesterday helped cut my losses today, but I still wasn’t fully hedged yet on my TLT exposure, so I came back to the well to cut my risk again. While TLT was trading at $133.66, I sold 10 TLT June $125 calls and bought 20 TLT June $134 calls for…
Hedged TLT Position
I’ve been watching TLT climb like a machine since 2016 started. I expected every spike to be the last one and every dip to be the turning point to lasting lower prices. I should’ve bought a far out of the money hedge weeks ago, but figured I could weather it. Then I got a margin call…
End of the Month Summary – January 2016
January was not an easy month to stomach, but it really wasn’t as bad as many investors might feel. The first couple of weeks were gut-wrenching for bulls, but we ended with a nice rally to cut losses in half. My account looks worse than it really is. That is to say my account balance is…