Kopin Tan wrote an interesting article in this weekend’s Barron’s starting on page M2. A few of the key points he hit are: – “The Dow has climbed in 19 of the last 21 sessions – one of the most enduring streaks since 1929.” My first thought was that has to mean that we are…
CMCSA – Nearing a short term bottom
Comcast (CMCSA) could be nearing a short-term bottom. I have 300 shares from puts that were assigned to me a month ago. I sold covered calls on all of them and watched them blow past my strike soon thereafter. They posted what seems like good earnings yesterday, but apparently the masses didn’t like the news…
A Down Day – Finally
It’s not that I want to lose money, but we are so overdue for a solid down day I’ve been nervous to make any big trades. This long run hasn’t made complete sense to me as I’ve noted a few times in earlier posts. Today the big economic report is that GDP slowed to 1.3%…
Adobe Chart – Safe Play?
I’ve been thinking about Adobe (ADBE) for a couple of weeks since I read the cover story in Barron’s. ADBE hasn’t climbed since the article and its option premiums are good. Schaeffer’s research rates ADBE 5 – again, not much help. The chart seems to be pointing up and worst case sideways. I bought 100 shares…
The Downside of Covered Calls, AAPL Fights Back
Man, I debated it and debated it, but decided to sell a covered call on AAPL on Monday, see my Greed post. I was planning to wait until after earnings came out on Wednesday, but got spooked on how I was loosing on NYX. I covered, luckily OTM. Since then AAPL hasn’t looked back and…
BA Covered Calls
I keep saying that my focus will be on my brokerage account, mainly because I prefer naked puts over covered calls, but I think Boeing Co (NYSE: BA) is worth writing about. I just bought 100 BA at 94.5181 (approximately) and sold a covered call at 2.70. I like the trend line for BA and…
Option Trade on JOYG
OK, I admit it; I don’t read all of Barron’s every Saturday. Sometimes it takes me all week to make it through, but that isn’t such a bad thing. By the time I get around to trading on any of the picks the “Barron’s bounce” has come and gone and I’m sitting pretty. I finally…
Stock Analysis on Global Santa Fe – GSF
Andrew Bary mentioned Global Santa Fe (NYSE: GSF) as one of the plays on “rock-bottom price/earnings ratios” in this week’s Barron’s (page 24). GSF stood out to me as a better opportunity to trade options on. Implied volatility is higher than the other stocks he mentioned while at the same time I see a better…
Is Greed Good or Bad
I waited on re-selling the NYX covered call that expired on Friday. Not only did I miss the opportunity to sell it on Friday when the contracts were already available and my old covered call was going to finish well OTM. I even waited this morning when pre-market told me it was going down. One…