Category: Stock Picks
November 18, 2016
My only November option left to expire was the an IWM covered call. I could’ve let it expire and be called away. That inaction on my part would’ve saved me $2.38 in commission for this trade, but the data entry is easier this way in Quicken and I decided my couple of minutes saved is worth the commission expense.
While IWM was trading at $130.70, I sold 100 shares of IWM and bought one IWM November $123 covered call for a …
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November 17, 2016
I had a bad run with my TLT options and short shares and then it turned in my favor, but I didn’t close (or at least roll) my covered puts in time to make up as much as I would’ve liked. I could push for a better gain by rolling my put strikes lower or I could simply exit and start over. To begin with, I decided to take the first steps towards exiting and starting over.
While TLT was trading …
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October 21, 2016
October options expiration worked out better for me than I expected just a few days ago. After I overpaid to roll my TLT October $135 puts earlier this week (compared to the price today), I was able to roll my TLT October $133 puts for nearly a full profit. While TLT was trading at $133.31, I bought to close five TLT October $133 covered puts and sold five TLT December $130 puts for a net premium of $1.33 per combination. …
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October 18, 2016
I didn’t time my trade well today, but I think it was the right trade to make for a longer-term outlook on TLT. While TLT was trading at $131.92, I bought 5 TLT October $135 puts and sold 5 December $131 puts for a net premium of $1.53 paid per combination. I paid $772.12, including $7.12 in commission, for all 10 contracts (five pairs). Annoyingly, the five combinations hit in five separate trades with the new December covered puts selling …
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October 9, 2016
The chart below shows the daily prices for the year-to-date on SPY, an ETF that tracks the S&P 500 Index, after closing the week at $215.04, on October 7, 2016.
While the large intraday price swings seen recently make the markets seem out of control, stock indexes have been moving in a tight …
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September 16, 2016
I had no September options left in my account to expire today, but finally sold a covered call on some of my long shares. I have 200 shares of IWM in my account, but decided to only sell one covered call today. I’ve had such a mental block against making this trade for so long that I finally figured I could push past it by only covering half of my IWM shares. I was right in not selling covered calls …
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September 8, 2016
I picked a good day to roll my options, but could’ve timed it better. That’s the story of this series of TLT trades I’ve been working since last year. Then again, as long as TLT is dropping, I can’t be too upset. My September TLT options had gotten cheap enough to exit and figured I should go for more premiums two months out rather than try to sit and wait out the next seven trading days (including today) to make …
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August 31, 2016
I have two legs of TLT September covered puts and decided I needed to roll some of them today. I meant to do this earlier, but have been focused on my work in client accounts more than my personal trading.
While TLT was trading at $140.00, I bought to close five TLT September $132 puts for $0.06 and paid $30.81 including $0.81 in commission. I turned around as soon as this order hit and while TLT was trading at $141.05, I …
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August 19, 2016
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I had no options expire today, but did roll one of my legs of TLT covered puts. I also considered selling covered calls on my long (MDY, IWM, and DIS) positions finally, but couldn’t pull the trigger. The upside potential is just too small for what I want right now. I think my brain is a little skewed by my over-allocation in TLT and am having a hard time focusing on the “base hits” I need to keep working on. Then …
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