Every single one of my options closed with a profit this month. I’ve been overdue for a month like this, but it’s not a perfect ending since two of them finish a penny or two in the money and I didn’t buy them back. Also, a couple were covered calls I was ready to see…
Tag: JPM
Sold CSX and JPM Covered Calls
Both of these trades would’ve been better a few days ago when I first started planning them, but hopefully it’s better late than never. I started with CSX this morning. I have 100 shares long and one covered call expiring on Friday at the $22.50 strike which I didn’t bother buying back because I don’t…
Bought and Sold Calls
Today had to be a day for the bulls after Europe made a big step in getting their act together and GDP came in at 2.5% for the third quarter. I saw the first 30 points in the S&P 500 and thought it was nice and was curious if it would hold. We sent sideways…
More Option Premiums for Me – Yippee!
Once again the S&P 500 ($SPX) closed in on 1,220 and then hit resistance, although I did see a print at 1,221 before it dropped again. The range has been tight today, which is nice after such volatility recently and also nice because it’s dropping the price of VXX and my VXX naked call. Once…
Market Goes Up – Time to Buy and Sell Options
1,220 still seems to be the magic number for the S&P 500’s ($SPX) resistance. This morning’s start was good enough for me to add some more exposure though. I started with adding more UCO before lunch. I am long 300 shares already with a three covered calls at the January $40 strike. I’ve been debating…
Options Expiration – August 2011
Not that it’s a surprise to anyone, but this is not a good options expiration Friday for my account. All of my naked puts finished in the money and all of my covered calls finished out of the money. These are the 11 options I was short going into the day. CSX – 1 August…
Options Expiration – June 2011
June wasn’t the prettiest options expiration I’ve had. My covered calls expired out of the money leaving me farther below my purchase price for the shares and my puts expired in the money. That’s basically the opposite of how I like it to roll out at expiration, so I’m adjusting my stance. I’m somewhat more…
Options Expiration – April 2011
I had short options on four different stocks/ETFs that expired today. All were profitable and I plan to work with all of them again for either May or June expiration options. My only April option that wasn’t profitable was QCOM and it was assigned a couple of days ago and has gained some ground since…
Revisting Old Friends – UCO, JPM, VXX
I’ll admit I was kind of happy to see the futures down this morning when I turned on CNBC. I knew that meant I could get into some positions at better option prices than if I had sold the options last week. Then I saw oil was up pretty big on the Libya news and…