May 2008 was another good month for me. As I wrote after May’s options expiration, almost all of my options expired worthless giving me full profit and I reached my investing milestone early. I moved back to a positive 12 month return, once again better than all major indices. My current account value according to Quicken is $94,669.39…
Oil ETF – USO Chart – May 30, 2008
For the first time in my weekly charting series I’ve decided to chart one of the major Oil ETFs, United States Oil Fund LP (AMEX: USO). Clearly I should’ve done this earlier and possibly could have made some good trades on it. I think everyone is aware of the rise in oil prices. The questions…
Closed SPY Calls
Last Friday I bought a couple of calls on the S&P 500 ETF, SPY. SPY is having a very hard time crossing its 10 and 20 day moving averages and staying above it. It made it above both lines yesterday and today, but both days fell back below it. Around my lunch break, while SPY was…
Four Good Stock Charts
I found a good article on charting stocks I thought some of you would like. You can find it on Investopedia’s site. They charted AA, siting support at current levels which is what I said it would do when I sold naked puts on it recently. Of the other three they chart, CBG and AHS seem…
SPY Chart – May 27, 2007
I hope everyone had a nice long weekend. I did. I’m slow getting back to investing as I busy at work on such a short week. This is my big play of the week, maybe. I bought a couple of calls on Friday and wrote about it here. The key for what I need to…
2 Trades – Sold KFT Naked Puts + Bought SPY Calls
I read a bullish article in Barron’s this past weekend on Kraft (KFT) and put a limit in to sell naked puts if it dipped. The chart showed it had room to come down and any time I see a bullish article in Barron’s or another rag I try to wait a few days for any…
DSX Option Assignment in my IRA
This is one to be happy about. In my wife’s IRA I bought 200 DSX at 31.15 on May 2nd ($6,239.99 cost) and 45 minutes later sold in the money June 30 covered calls (DSXFF) and received $528.50 after commissions. This morning I received an email that the calls were exercised and I was forced…
Sold CMI Naked Puts and Added Naked Calls to AA Position
Alcoa (AA) has been slipping since I added to my position on Monday. AA is still trading above my strike and the chart doesn’t show a break in support yet, but I decided to start hedging my position a little since I have 500 shares at risk (300 at the June 35 strike and 200…
Sold New QCOM Naked Puts, Again
My last QCOM naked puts expired worthless this past weekend. I waited a little more than two days to pick my new entry point. I still like the company and the stock’s 10 day moving average is just above 45 giving me a good strike to target. I also drew a trend line of higher…