My single expiring option for May finished in the money, so I decided to roll it out to July before taking the assignment. While IWM was trading at $136.43, I bought to close one IWM May $138 naked put and sold one IWM July $138 naked put and received $283.60 after paying $2.20 in commission…
Author: Alex Fotopoulos
Sold ADI Naked Put
For the first time in the 10 years that I’ve been writing My Trader’s Journal, I made a trade on Analog Devices ($ADI). While ADI was trading at $80.60, I sold one ADI July $80 naked put for $3.40 and received $339.75. I think the downside risk to ADI is no lower than $75 and…
QQQ August Ratio Spread
Volatility is so low right now that it’s barely worth selling options. The NASDAQ Composite hit a record high again and I opted to sell a ratio spread on QQQ with the belief that QQQ will move slightly lower before expiration in August. If I’m wrong and QQQ climbs further, I still make a few…
End of the Month Summary – April 2017
My account had another month of gains, but I was still far under-invested and missed out on what could’ve been more. Maybe I’ll get off the sidelines a little more on the next dip. I missed a good opportunity while the VIX moved higher a couple of weeks ago, but keep waiting for a bigger…
UWM – July Naked Put
While UWM was trading at $109.90, I sold one UWM July $100 naked put for $4.30 and received $429.75 after paying $0.25 in commission. I just realized I didn’t address in the video why I sold the July expiration. The nearer-term expirations didn’t offer enough of a premium to make it worth the trade and…
SPY Chart – April 7, 2017
The chart below shows the daily prices for the past six months on SPY, the SPDR ETF that tracks the S&P 500 Index, after closing the week at $235.20, on April 7, 2017. The S&P 500 has edged lower since peaking at the beginning of March, but the chart shows it hasn’t rolled over yet. The two trend lines…
End of the Month Summary – March 2017
My account gained a little more in March, but I took it easy overall due to other events in my life. My soon-to-be ex-wife and I sorted out everything and engaged an attorney to write it up for us. Now, we’re in the proofing stage and will file soon, which will open up more investing…
Options Expiration – March 2017
The only option I had in my account that expired today was an IWM March $135 naked put. It’ll expired worthless and I left it rather than spending a $1 to close the position. I opened a new position to replace it. While IWM was trading at $138.42, I sold one IWM May $138 naked…
End of the Month Summary – February 2017
The good news from February was that my new account is officially funded. The bad news is that I didn’t invest enough yet while the market continued to melt higher. I gained some, but not much at all. While my account is funded, I still feel like I should be very cautious until my divorce…