It took a month since I first said it, but natural gas and oil are up nicely recently on hurricanes Fay and Gustav. I can’t remember a summer/fall season where there wasn’t a scare that pushed prices up, at least temporarily. The big question will be how long this spike in prices last. I’m sitting…
Tag: ETF
Sold Oil ETF USO Naked Put
I bought 100 shares of USO (an oil ETF) at $99.00 and sold a September 98 covered call for $6.80 in my IRA a little more than two weeks ago. I’ve watched the price of oil fall fairly steadily since then. Around the same time I entered a limit order to sell a naked put on the same…
Oil ETF – USO Chart – July 11, 2008
I’m charting the oil ETF USO again after I last charted USO at the end of May. I drew a few trend lines then and as our (those who eat and drive) bad luck would have it, the shorter trend line of higher lows held support. That same line is still holding and the price of oil…
Closed SPY Calls for a Loss
Lots of bad news (oil up, unemployment up, dollar down) hit the markets before the market’s open as we all saw. Immediately I thought about the SPY calls I should’ve closed yesterday before market close. I had a ~30% gain in the bag, but stayed greedy and hoped for more. The SPY June 142 calls (SFBFL) that I bought for…