I’ll be away for the next few days and will not be posting until after options expiration. I don’t think I’ll be back in time to get an index chart up this weekend either.
I’m going to a family event for my wife’s side of our family in New York. If it was my decision it wouldn’t have been planned for options expiration Friday, but I guess not everyone tries to revolve their plans around the markets.
After selling two naked calls on top of two other naked calls on MHK I might take a hit. MHK has rallied more than $7 in the past two days and is $0.70 from being in the money forcing me to be short the stock. I don’t even know if TD Ameritrade has shares for me to short (aka borrow to sell). I have naked puts at the 65 strike too, so if it’s below that, they’ll wash each other out. I’m expecting a cool down on it. If it climbs more than $0.70 I’m taking what I get unless I make a trade over my cell phone (not likely) at the end of Friday. I’d be short 400 shares and would beg for another drop in price (likely).
AA closing just below 35 would be ideal so I can be assigned the shares and write covered calls and pull a profit out of this position. JOYG needs to stay where it is so I’m not assigned the shares and can re-write naked puts next week. Worst case, I’m assigned the shares and write covered calls.
I’ll update the rest of my positions on Monday when I know what has happened.
I am also on vacation with my family in Okuma, Okinawa, Japan. We have played PuttPutt, PingPong, ridden Go Carts, watched movies and eaten out. The kids and my wife went to the beach while i played some chess. Anyway, expiry came and went. I did trade on Friday JULY GOOG put, made 700 on 1,100 investment, so i was happy. While i crave more action, my original plan was to get some more F, and write some covered calls. We won’t be home for few days, so may get to see what F earnings does to stock on 24th. Will look to see how your positions turned out too, but you deserved a vacation. Still considering my 25 people, 25 month, 25K plan, but have no idea how to get anyone else involved. Here’s an interesting note: My dad has traded in the paper accounts at TOS turning 100,000 initial account balance into over 500,000, in less than 6 months i think. Well, the beat goes on, still working on building my balances again, as always good luck and take care.