My MON July 80 call (MONGP) is expiring out of the money today, so I decided to go ahead and sell another call today to increase my chances for profit over the series of trades. While MON was trading at $75.29 I sold to open one August 75 covered call (MONHO) for $3.20 and received $309.25 after commissions. …
Tag: SLB
Moved MON and SLB Options to July Expiration
I only had three options finish in the money today (one on MON and two on SLB) and made changes to both positions to give me more downside cushion and increase my chances for a bigger profit by the end of the series of trades. I could’ve exited both positions with a little profit today, but decided…
Rolled SLB June 55 Naked Put Higher
I’ve been torn on how to continue managing my Schlumberger Ltd (NYSE: SLB) position. I’ve been wrong for the past week or two on how fast oil was going to recover. As oil continued to climb this morning, SLB tagged along as it should. Once SLB moved up this morning my position moved to a…
Added Leg to SLB Option Position
A month ago when I sold a strangle on Schlumberger Ltd (SLB) and took a net credit of $646.98 I thought I’d be safe on both sides through June option expiration, but then the rally hit and all of the sudden I was a little worse off than break even on paper for my SLB strangle. I finally decided to…
Option Trade: Sold SLB Strangle
The May 4th edition of Barron’s had a bullish article on Schlumberger Ltd (NYSE:SLB) which led me to check its option prices. Before I detail that part, here are a couple of the quotes that helped formulate my trade decision: Schlumberger’s shares could rise 20%-25% in the next 24 months, to 60. And if there were…