Oil prices have been rising for the past month, but started to look shaky this week with as UCO fell below its 10-day moving average. Actually, oil is still in its upward trend that started in three months ago, but I’ve already made the easy money on my UCO option trade. While UCO was trading…
Tag: UCO
A Nibble on UCO
I’m so far underinvested right now that I caught myself looking for anything that I could reason to be a good trade. The risk seems greater in the near-term to me than the option premiums are offering on most index ETFs. That’s keeping me away from selling new puts on my recent standard ETFs. DIS…
Closed UCO Ratio Put Spread
I feel relatively confident that oil’s best days are behind it for the near term, but a few weeks ago, I entered an order to close my UCO put spread for a tiny additional profit. My order lasted for at least two weeks to sell my 20 short puts and 10 long puts for net…
Sold UCO Ratio Put Spread
After finishing my long series of UCO trades with a profit last week, I’ve been trying to re-enter my exposure to oil. The price got a little ahead of itself and there was no way I was going to make this mistake of chasing it with high strike naked puts while WTI Crude is trading…
Options Expiration – July 2013
For as much money as I had in options expiring today, it was very quiet all week. The bulk of my options today were on UCO. The only one that wasn’t on UCO was on IWM. Here’s how they played out. I had three IWM July $95 naked puts that finished far out of the…
Account Clean-Up: UWM & UCO
I entered limit orders early in the week to clean-up my account some by closing out some positions that had very little time value left in them. Both of those orders hit today near the open and I freed up some more cash for new trades. After the jobs data came out and the futures…
Added UCO Ratio Put Spread
Going into today, I was long 1,200 shares of UCO with six covered calls in-the-money at the July $28 strike and six covered calls out-of-the-money at the July $33 strike. UCO has been moving higher since its mid-April low. The ascent has been anything but steady and might have topped out again. Two days ago,…
Options Expiration – April 2013
I came into today with only a couple of positions remaining. I closed my other April options over the past few weeks, mostly with poor timing. My AAPL bear put spread was a fantastic trade, except I closed it for a loss before the fantastic part worked itself out. I missed out on a nice…
Sold UCO July Covered Calls
This has not been my month for timing exits from my positions. I’ll go into more detail on this tomorrow about what “could’ve been” with other positions. In reference to UCO, it’s annoying me more than trades usually do. I had a chance to get out of my UCO ratio spread with a realized profit…