I had a good options expiration this November as most of my positions went my way. Here’s the breakdown of how everything finished for me. SPY – 112 Straddle (sold 1 put and 1 call at 112) – My put finished well out of the money and which means my covered call was deep in the…
Tag: UCO
Rolled UCO Covered Calls
Just a week ago UCO traded as high as $11.99. This afternoon (so far) it has traded as low as $9.97. That’s the kind of volatility that makes selling options fun when you can time it right or at least close to right. Last week I was convinced my UCO shares were finally going to get…
3 Positions Updates – UCO, CVS, VXX
I spent yesterday watching to see how the market would behave this week after such a good run already in the books. I made no trades in my taxable account until today when I decided to make a few adjustments. I started with UCO. My long term position still has a paper profit for me…
Sold September UCO Strangle
I’ve waited long enough without covering my UCO shares with calls. When I finally got around to it this morning I decided to add some more downside exposure at the same time with new naked puts to go with the covered calls. Until today I couldn’t get myself to accept the premiums for the risk…
Options Expiration – July 2010
What a crazy options expiration day today was! I took the opportunity to open four new positions as my old positions expired worthless. The options for September were already available for SPY, GES, NDAQ and EEM and my July options were far (enough) out of the money so I started with those and will catch up with UCO on Monday…
Options Expiration – May 2010
What started just a couple of weeks ago as an easy ride into expiration turned around on me very quickly, especially in the last few days before today’s relief. I’m still not sure what to think with where the markets are heading over the next week/month and so I started adjusting some of my positions today…
Completely Changed UCO Position
I made a major change with my UCO position this afternoon. I started working on this idea a couple of days ago and wanted to wait until later in the week to kick it off to make sure UCO didn’t rally too soon. Before I made this change today I was short 10 UCO May 13 naked puts…
Added Short Puts to UCO Position
I mentioned yesterday I was eyeing UCO again since I’m already long 10 puts at the October 12 strike. My driving force behind this whole trade series is that I think oil is probably fairly priced in the $60-80s with the likelihood of a deeper fall fairly remote, especially on a longer term view as…
Options Expiration – April 2010
After operating in a daze the past couple of weeks I happened to notice the date today and saw April options expire tomorrow. That got me to jump. I started looking at each of my expiring options (NDAQ, INTC, T, JPM and UCO) and making decisions on what to do. Here’s how I’ve started and plan…