The Russell 2000 (“$RUT.X” in TD Ameritrade and “^RUT” in Yahoo! Finance) has been bouncing around a trading channel this entire year. What is now a ceiling for this price on the chart was the floor for the second half of last year. I won’t believe this channel is broken (in either direction) until we…
Sold New BNI Naked Puts – Covered NVDA Puts
I made two trades yesterday (Friday). I started with Burlington Northern (BNI) from a limit order I had from a day earlier. While BNI was trading at $102.63 I sold one BNI September 95 naked put (BNIUS) and received $259.25 after commissions. I’m already long 100 shares of BNI from the July 105 naked put…
Month End Summary – July 2008
I’m glad to be done with July. I finished the month with a realized gain of $736.04, but have a pile of paper losses waiting for a rebound or to be realized when I close my positions. On paper, I lost $4,434.45, but the bright side of that is that I was down around $7,000 briefly. I’m…
Sold Qualcom (QCOM) Naked Puts
I finished July options expiration with a full profit on QCOM and planned to get back in last week, but had some other orders hit before my QCOM order could. I don’t like selling all of my month’s options within a day or two of each other in case there’s a big market move against…
S&P 500 ($SPX.X) Chart – July 25, 2008
This morning I charted the three year weekly chart for the S&P 500 ($SPX.X) ending Friday, July 25, 2008. I started off trying to find a bullish trend line I could point out that showed something positive for us to see and went all the way back to the 20 year view before I decided that we…
Chesapeake Energy Corp (CHK) Chart
Chesapeake Energy (CHK) has seen better days, including back up at $60 where I sold two naked puts. I charted it (below) today to see where I should price some naked calls to try to cut my losses some, but was surprised with the action I decided to take. The way I chart CHK’s stock,…
Current Portfolio Update
I updated my current portfolio page and pasted the same screen shot below to show what I’m holding now. Unless I have a huge rally next week, July will end up being my second biggest down month. Right now I’m down about $7,000 since the first of the month. That’s more than 7% down in a month. …
Sold FCX, CMI and DRYS Naked Puts, again
After my Freeport McMoran (FCX) July 105 naked put expired last week and assigned me 100 shares I sold those 100 shares when FCX rallied. The next day FCX dropped $8+. I thought my limit was going to hit for the September 95 naked puts, but I priced it too high. This morning I changed my…
5 Trades This Morning – AA, BNI, FCX, JOYG, KFT
As I wrote earlier today I had a lot of option assignments from this past Friday’s option expiration. Kraft (KFT) was one from earlier in the month as an early assignment. I held it for two weeks without selling covered calls on it. KFT closed at $28.70 the day before my shares were assigned. Today…