Here’s an interesting article on CNN.com’s site that I almost had for MyTradersJournal.com. It’s written by a friend of the family who works at CNN, Paul Varian. He sent me his story via email and said that he was sending it to the AC/360 team also in case they were interested. He gave me permission…
Dow Jones Industrial Average Chart ($DJI) Chart – October 24, 2008
Today I charted the Dow Jones Industrial Average daily price movement for the past couple of months. In red I circled what could be the bearish view of where the Dow could move next. It follows the lower trend line of lower lows and might have a good case for dropping further depending on which…
Option Trades on FCX, SSO & USO
FCX I didn’t even know this one hit yesterday until I was checking something else this morning. While FCX was trading at $26.27 I bought to close two FCX November 40 covered calls (FCXKH) for $0.50 each and paid $111.49 with commissions. I’m expecting FCX to come back some and want to have room to sell…
Closed MON Covered Call and Sold a New Naked Put
Two days ago I sold covered calls on MON on top of the 100 shares I own (long). Today I bought those calls back for a profit. While MON was trading at $79.93 a few minutes after opening this morning I bought to close my MON November 90 covered call (MONKU) for $3.20 and paid…
Sold New DIA Puts
With the markets taking another dive today I bought my original naked puts back for a profit this morning since I expected the fall to continue through the day and now that it’s down deeper I decided to get back in at a lower strike. I do not claim this is a bottom, but do think I am…
Closed DIA Short, Added to USO Calls and Sold SSO Naked Puts
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…
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…