After closing my UCO position last week to move my account to IB, UCO dropped more than a dollar. Call it skill or luck, but I’m happy I timed that right. Now that some of my cash has been transferred I’m pushing my luck/skill again with UCO. This morning, while UCO was trading at $12.62…
Tag: UCO
Closed NDAQ and UCO Naked Puts
To speed up the clean up of my TD Ameritrade account before I close it I decided to close a couple of my positions early. Depending if today’s broad market drop continues through tomorrow I might have to buy back some of my other options too. I started with NDAQ and UCO because NDAQ was…
Sold UCO December 13 Naked Puts
Yesterday I missed a better opportunity to get back into UCO (an ETF that tries to match twice the daily performance of the Dow Jones UBS Crude Oil Sub-Index). Little did I know a nice mini-rally was coming for oil starting just a few minutes after I decided to sell new naked puts on the ETF. The…
Options Expiration – October 2009
I had a good month to be short options. Every one of my short positions closed out of the money leaving me with a full profit on each one. I could’ve written higher strikes and made more money, but opted to go with out of the money naked puts for all of these except for EEM,…
Sold UCO October 11 Naked Puts
After babbling on about how I might play ProShares Ultra DJ-UBS Crude Oil ETF (NYSE Arca: UCO) after my September UCO naked puts finished in-the-money (ITM) on Friday, when I logged on to TD Ameritrade (AMTD) this morning I saw I had been given a gift. For some reason I didn’t get the option assignment. As I…
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…
Sold Naked Puts on DSX & UCO
I entered a few orders over the weekend with the idea that they might trickle in during the week while I stay focused on my new job. Instead, two of them hit in the first half hour of the trading day which caused me to get email alerts to my phone. That meant I “had to”…