I talked about my UWM option positions in my last post. It looked like small-cap stocks were turning around and I figured I should wait before exiting my four naked puts since I had so much time value left to erode still. Over the weekend, I came up with another plan that seemed like it could…
Tag: UWM
Options Expiration – April 2014
A couple of weeks ago, I talked about closing my only April option contracts that made it to expiration, but I decided to let it play out. Today, that decision proved to be wise. My two UWM April $72 puts expired worthless. I’ll pocket a realized gain of $808.45, which is a gain of 5.95% or…
Option Trades on SPY & UWM
I wrote recently that I had a limit order in place to close my far out-of-the-money UWM April $72 puts. Well, the order expired before I found a taker on the other side of the trade. By then, I decided UWM wasn’t worth closing for 10 cents and changed my order to close if I…
Sold UWM July $70 Naked Puts
Starting early yesterday morning, my whole day fell into disarray. My uncle (who has dementia) had a small stroke and his assisted living home needed me to take him to the hospital. My parents usually take care of him, but they were on their final day of a short vacation. I spent the entire day…
Rolled My Leveraged Naked Puts
I had two different January leveraged ETF puts going into today that had limited upside potential. The downside risk was still there in case a black swan event hit. So, I thought I should roll these out and up with diagonal spreads to increase my potential profit in the coming months. The underlying ETFs were…
Options Expiration – October 2013
This month’s options expiration was another easy one for me. I only had one option expire today and it was not even close. UWM is trading at $78.14 while I write this, meaning my two UWM October $52 puts will expire worthless and I’ll make a full profit. I could’ve made a lot more on the trade…
Sold New UWM Puts
My left arm is in a sling and I’m using a mix of typing with one hand and dictating to Siri on my phone and emailing myself, so I’ll keep this post short. On Friday, I entered in order to sell new UWM naked puts for January. I expected the market to pull off its…
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 Naked Puts on Leveraged ETFs
This morning’s positive jobs data caught most investors off guard. Not only did it beat forecasts by 10,000, the previous month’s number was revised 50,000 higher. Much of my concern for the market’s direction came from my view that if the jobs data is weakening, the economy will follow. Based on today’s employment data and…