I’ve been all over the board this month. Here’s a snapshot of my current portfolio as of 2:45 pm today. I have a mixture of covered calls, naked calls, naked puts and long stocks. I have a little less than $4,000 in time value left to melt away before October options’ expiration. I recovered about half of…
5 Naked Option Trades – AA, CMI, JOYG, USO, CHK
A little more than a week ago when my account recovered half my losses I actually thought about dumping almost everything to have something left when this mess settles down. I didn’t and now I’m back to my lows again. Starting this morning down more than $4k made me react quickly. My first two trades…
Overwhelming Anxiety
I had a panic attack this weekend. This is a feeling I haven’t felt in a long time. It wasn’t due to me being a recruiter during a recession, the 15% drop in my stock account’s value the past month, political issues, UGA’s loss to Alabama, my three sick aunts, or my son acting out…
Dow Jones Chart – September 26, 2008
Today I charted the Dow Jones Industrial Average ($DJI) since the beginning of 2002 through this past Friday, September 26, 2008. Michael Santoli pointed out an interesting technical achievement for the Dow Jones in September 29th’s Barron’s that I thought would be interesting to look at. We’ve hit the 50% retracement level from beginning to end of the bull…
Sold FCX Naked Calls
FCX dropped at the open today, so I didn’t wait any longer to sell new options. While FCX was trading at $64.84 I sold two FCX October 80 naked calls (FCXJP) for $1.20 each and received $228.50 after commissions. I almost sold one call at the October 75 strike since the premium was almost double,…
Freeport-McMoRan Copper & Gold Inc (FCX) Chart, Sold Naked Put
FCX continues to fall and I think 60 should offer support based on the chart I drew below. I placed a limit order to sell a new naked put and/or naked call depending which direction it swung. I’m already long 100 shares with a covered call at the 80 strike and want to bring in some…
DryShips, Inc (DRYS) Sinking Slowly
DRYS is well below the strike price ($55) of the covered calls I sold on Monday morning and the stock is still falling still, although at a slower rate than the past two days. To pull some more cash in and make me slightly more Delta neutral I decided I should sell some naked calls…
7 Covered Call Trades in One Hour: AA, CHK, DRYS, FCX, JOYG, QCOM, USO
I almost took today off from work knowing I had a lot to focus on outside of my paid job. I had some long positions with covered calls expire out of the money and I had naked puts expire in the money which forced the underlying stocks to be assigned. The outcome was that I had…
S&P 500 (SPX) Index Chart – September 19, 2008
Today I’m coming back to the S&P 500 ($SPX.X) to chart the past couple of years’ weekly price action. I went with the weekly chart this weekend because I thought it was important to take a longer view and remove some of the “noise” of the intraday moves. I see a few interesting markers on…