I expected to come in with at least a few trades to kick the week off on Monday and Tuesday, but stayed patient in this account and watched the fluctuations. The two first trades I thought I was going to make were on TBT and DSX, but neither of the naked puts ended up being…
Tag: VXX
Closed VXX Naked Call
I was planning to ride my VXX naked call all of the way to expiration and then sell covered puts on it for as long as I could ride it. Once I saw $SPX hit resistance around its 200 day moving average I started wondering if my downside risk was greater than my upside potential…
Cutting Downside Risk, Again
I expected the S&P 500 to hold support above 1,100 and when it tripped lower at the end of the day yesterday I decided to cut more exposure this morning. I started off with my biggest risk, VXX. The VIX could easily ease off from these levels, but with the insanity going on this week…
Sold VXX December Naked Call
In the comments section of my last post I was asked about any VXX options I might be considering. I mentioned I thought a naked call on VXX could be profitable. Today I entered a limit order good through Monday and didn’t think it would hit until Monday, but it did. While VXX was trading…
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…
Exercised VXX Put and Closed SSO Put
I’ve been debating buying back the SSO June 50 naked put I sold last December and mentioned it last week in my rambling post. SSO was trading at $47.89 back then. Today while SSO was trading at $49.21 I bought this SSO June $50 put back for $1.03 and paid $104.02 with commissions. That gave…
Sold VXX Covered Calls
I have mixed thoughts about this market. On one hand I think the bull market has more time left in it just solely based on the time we’ve run from the bottom to present. On the other hand the ground we’ve covered has me wondering if a solid 10% correction still isn’t in order. We’re…
Options Expiration – April 2011
I had short options on four different stocks/ETFs that expired today. All were profitable and I plan to work with all of them again for either May or June expiration options. My only April option that wasn’t profitable was QCOM and it was assigned a couple of days ago and has gained some ground since…
Revisting Old Friends – UCO, JPM, VXX
I’ll admit I was kind of happy to see the futures down this morning when I turned on CNBC. I knew that meant I could get into some positions at better option prices than if I had sold the options last week. Then I saw oil was up pretty big on the Libya news and…