Dry Ships, Inc (DRYS) has been killing me. I own 400 shares with an average cost of $43.47 not counting the premiums I’ve taken in since I started off with a DRYS naked put back in June. I have two naked puts expiring today that will assign me 200 more shares at $17.50. That will bring…
Author: Alex Fotopoulos
Closed SSO Naked Puts for a Profit
Greed cost me more than $1,000 on my SSO naked puts. While SSO was trading around $20.75, I bought to close five SSO November 22 naked puts (SOJWV) for 1.80 each and paid $913.74 with commissions. Originally, back on October 24th, I sold these naked puts for $2.20 and received $1,086.25 after commissions. That gives me a…
S&P 500 Chart – November 19, 2008
I’m posting a chart of the S&P 500 ($SPX.X) mid-week in honor of the new 5 1/2 year low. The Dow Jones is down there too, but I’m more interested in the $SPX since I have a decent sized play on SSO, the double the $SPX ETF. Again today I didn’t make a trade as I stood like…
Realized Gains Getting Too Big
My account has a weird issue brewing in it. I have very big paper losses, but haven’t done much to realize those losses throughout this year of Hell. I’m still showing a realized gain and have a month and a half to go before I have to dump something for a loss and maybe two…
Dow Jones Chart – November 14, 2008
I went back to the beginning of September 2008 and charted the daily price action for the Dow Jones Industrial Average, aka DJIA ($DJI). We’ve seen days over the past two months move more in a single day than the DJIA sometimes moves in an entire year. The odd part is that many of us are…
Current Holdings – November 12, 2008
I’m back from vacation and see that we haven’t found the bottom yet. I pasted screen shots of my current portfolio below. I circled the two December options I have in my account. The rest expire next week at November option expiration. I tend to write only about my mistakes lately since that’s what I…
On Vacation
I’m on vacation the next few days, so I won’t have an index chart this weekend. I’ll be back in a few days and will resume normal posting when I get caught up at work.
Sold FCX Covered Calls
While FCX was trading at $29.28 I covered my 200 shares of FCX by selling two November 35 covered calls (FCXKG) at market for 0.81 each and received $150.50 after commissions. I sold the calls only 12 days away to give me quick erosion of time value. I picked the strike more than $5 out…
Sold New USO Naked Puts
While USO was trading at $56.85 I sold two USO November 51 naked puts (USOWY) at $1.85 each and received 358.50 after commissions. I picked this out of the money strike based on USO’s low recently. I’m expecting that low just above $50.00 to hold as support. It also balances me better for the seven calls I’ve…