Options expiration finished pretty good for me on a few positions, but really bad on a couple of others that wiped out my gains on the good ones and then some. This is how it shook out this month: UCO – 3 November 26 naked puts – Finished out of the money by a long…
Tag: UCO
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…
Sold Covered Calls on UCO and SSO
It’s not time to panic yet, but I thought it wise to take some future profits in early and sold covered calls to do it. That’s how I see covered calls – they are basically an advance on future profits if they end up getting called away. If the calls expire worthless they are just…
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 – July 2011
Options expiration was mixed again for me this month. I only had four options expire today on three underlying stocks/ETFs – UWM, UCO and AFL. Starting with the good, two of my naked puts expired worthless. On the other side one of my naked puts expired in the money which also left the covered call…
Added January UCO Naked Put
This morning I was looking at my TD Ameritrade (AMTD) account and started thinking that I had some more room to add exposure there since the LEAPS I sold months ago are far from being assigned. I don’t have a lot of cash available in that account so I turned to UCO knowing that I…
UCO Chart + New Option Strangle Details
I almost made this trade yesterday while I was thinking of it, but luckily I chose to wait a day and was able to get in with a slightly better premium on the put. I don’t think the call lost as much since it is farther out of the money. I entered this trade as…
Closed UCO Covered Call
As I mentioned when I sold this covered call I wasn’t really convinced it was the right order to place. I cut off my upside potential too low and had seller’s remorse right away. I almost bought it back a couple of times over the past few days, but kept thinking we’d get another blip…
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…