I literally waited until the last minute today to finish my trades for this options’ expiration. My USO and QCOM call options were my only two that were near their options’ strike giving me a profit to work with. I’m accepting all other option assignments as the come. I blew off work for the final…
Author: Alex Fotopoulos
Sold New USO and AA Calls
Oil ETF USO has been killing me. This is one I should’ve bought puts on a long time ago when I thought it was coming down. I didn’t close my long position I had because I thought the drop would be brief. If I had the mindset earlier that I’ve developed recently I’d have bought…
Closed USO Long Puts
On Friday I bought some coverage for my USO position. I’m long 100 shares of USO and bought two puts to give myself some downside protection. While USO was trading at $61.22, my limit order hit to sell the puts. I sold to close both October 66 puts (UNAVN) for $5.20 each and received $1028.50 after…
Close XLB Position for a Profit
I bought insurance puts on XLB (Materials Select Sector SPDR Fund) at the beginning of last week and then sold XLB puts at a lower strike and nearer expiration a couple of days lower to cut my costs. I ended up profiting on both legs. The puts I sold expire in three days and the puts I…
Sold Extra QCOM Calls
I’m long 200 shares of QCOM that I bought from my last naked puts that were assigned at $52.50. I sold covered calls at the October 50 strike a while ago only to see QCOM fall further and put me at a paper loss. With almost all stocks up the past two days, QCOM has been…
Dow Jones Charts – October 10, 2008
I’m posting multiple Dow Jones charts (aka $DJI, DJIA, the Dow) today. I’m starting with the one day chart, then the one week, followed by the one month and then I jump out to the 10 year chart. I chose these because each chart’s story is interesting to me. I worked from home on Friday and…
Covered USO Long Position
I covered my USO (oil ETF) long shares with two USO puts this afternoon. Oil was a bad trade to get in for me and I’m stopping the bleading for the next few days. While US was trading at $64.00 I bought to open two USO October 66 puts for $4.30 each and paid $871.49…
New DIA Option Position
The DIAMONDS Trust Series 1 (DIA) is an ETF that seeks to match the results of the Dow Jones Industrial Average (DJIA). After exiting my SPY (S&P 500 ETF) options this moring for an overall profit, I switched my attention to DIA. While DIA was trading at $82.32 I bought to open two DIA December 84…
Closed Short and Long SPY Puts
I started looking at what naked puts I’d likely be assigned next week and how much cash I still had in my account and decided I should close out my short and long SPY puts to help avoid going on margin during a bear market. These SPY puts are the ones I got into this week…