After finally seeing the S&P 500 fall more than 5% from its intraday highs on September 23rd I decided I shouldn’t stay on the sideline too much longer. I’m not necessarily saying this is a bottom, but do believe that after we’ve come down 5+% off the top, hopefully there’s only about 5% more room…
Tag: SSO
September 2009 Options Expiration
As I wrote about a couple of days ago, I had to make a decision on SSO and took the easy way out. I just gave up on the bad trade. I kept it simple versus trying to manage a short position that I apparently can’t predict. I still think the S&P 500 index will give back some gains…
My SSO Quandary
I’m looking pretty good going into option expiration Friday for my September puts. My one naked call (SSO) is holding me back though. Here’s what I have in my account right now: Qty Symbol Description -2 +BZDVX BA Oct 50 Put -3 +DSXVV DSX Oct 12.5 Put -3 +URPVF EXPD Oct 30 Put -2 +TVE T…
Sold SSO September 32 Naked Calls
I’ve been neutral to bearish lately, so I decided to put my money where my mouth is and leg into an SSO short straddle. While SSO was trading at $30.95 I sold to open two SSO September 32 calls (SOJIF) for $1.05 each and received $198.49 after commissions. Last week I sold SSO September 30…
Sold SSO September 30 Naked Puts
I’ve been so shy about not getting too deeply invested for the past couple of months I’ve missed out on a lot of potential gains. After today’s rally started I gave in a little. I decided to ease in with a half order on SSO, the double S&P 500 ETF. While SSO was trading at $31.16…
Closed SSO Put Spread & Other Options Expiration Updates
As of the close of yesterday I thought I had my SSO put spread for a full profit, but that changed quickly this morning. Instead the S&P fell and I lost. I watched SSO most of the day, along with my other positions. With 10 minutes to go in the trading day I closed my…
Sold USO Calls & Bought SSO Calls
USO I started the day by selling covered calls on my 300 newly acquired USO shares I had to buy at $31.00 (I paid $9,319.99 with commissions) from the February 31 naked puts that expired in the money (ITM). USO started up and then headed south with the rest of the markets. While USO was trading at…