I’m still trying to get my bearings after missing the past two trading days and not even returning from vacation until Sunday evening. Since I’m just now trying to get my hands around what happened I haven’t figured out all of my exact profit and losses for each position with so many balancing trades that countered each other out. These are the expiration details of my 16 different July options.
Alcoa (AA) closed at 33.81. My July 35 and 47.50 calls expired worthless and my two July 40 naked puts were assigned. I’ll write covered calls on it this week.
Burlington Northern (BNI) closed at 94.57 and my one July 105 naked put was assigned. I’ll write covered calls on it this week.
Cummings (CMI) closed out of the money at 66.32 and my July 60 naked put expired worthless. I have a limit order to get back in with two more naked puts.
DryShips (DRYS) closed out of the money at $76.86 and my July 70 naked put expired worthless. I don’t know what I’m doing with it again, but expect to look a new naked puts.
Eaton (ETN) closed at 72.92. I took a loss on this one overall. My July 90 put was in the money and was assigned, but my July 70 call was also in the money and removed an equal number of shares. My July 70 put was the only good trade I made as it expired worthless.
Freeport McMoran Copper and Gold (FCX) closed at 103.24 putting my July 105 naked put in the money. 100 shares were assigned to me. I’ll write covered calls on it after I chart it to see where I think it will go. It’s up in pre-market, so this could be one of the best option assignments I’ve had in a while. I might let it get above 105, sell my shares and then write another naked put so I can keep my cash free.
Joy Global (JOYG) closed at $70.78 and my July 75 naked put was assigned. I’ll write covered calls on JOYG this week.
Mohawk Industries (MHK) closed at $64.85. My July 60 naked calls were assigned Friday morning and I was short 200 shares all day and my July 65 naked calls were in the money for a little while. By the end of the day MHK closed below the 65 strike and my July 65 calls finished worthless, out of the money. My July 65 naked puts closed in the money which automatically forced the buy back of my 200 short shares. $0.16 higher and I’d be short 400 shares this morning and would have had a chance to turn this series of trades into a profit. That didn’t work out for me and I took a loss overall. Had I gone short 400 shares I think I would’ve sold covered puts at the 65 stike unless it dipped early and I was able to buy the shares back under $64.00.
Qualcomm (QCOM) closed at 45.19, barely out of the money for my July 45 puts. I’ll write new naked puts on QCOM this week probably.
Tidewater (TDW) closed at $58.89. That left my July 65 put in the money and I was assigned 100 shares at $65 per share. I sold August 65 calls (now covered calls) on it a couple of weeks ago and will now have to decide if I want to ride this out as it is or try to sell extra calls on it.
I have a lot to catch up on around work now and will try to get my trades in whenever I can during the day today. I have almost $42,000 on margin right now, so I’ll have to sell some of my long positions and/or some of my cash I’ve kept in reserve in my NPLXX money market.