After I sold the DIA bear call spread on Tuesday I quickly started to lose my patience, but didn’t panic. I kept charting (throughout the day, all day) and although DIA (and the Dow) kept inching its way to new highs it fell quickly soon after each time. As I pointed out in the post…
Author: Alex Fotopoulos
Sold Vertical Call Spread on DIA
A few weeks ago I saw an opportunity to sell a deep in the money put spread on MON for very little out of pocket. I didn’t pull the trigger (and still don’t know why) and saw MON gain $15 over the next few weeks. I would’ve made around $850-900. I noticed DJIA was having trouble at…
End of Month Summary – November 2009
My increased market exposure from October paid off for me in November as every position improved from month’s beginning to its end. In my October Summary I pointed out that I got into the markets too early even though I expected a decline. In November I stayed patient and those paper losses turned into nice sized realized gains. With an…
Dow Jones Chart – Support at the 20 DMA
I charted the Dow Jones Industrial Average (aka $DJI, DJIA, INDU, the Dow) after the markets closed on Friday, November 27, 2009 when the Dow finished the week at 10,309.92.
NDAQ Naked Puts Redux
The day after I closed my NDAQ position before my November options expired, NDAQ had a huge day gaining almost 5% intraday. I regretted my timing of having to exit my position to move the cash to my new account, but knew there was no need to worry about it since I couldn’t take it…
Sold UCO December 12 Naked Puts
After closing my UCO position last week to move my account to IB, UCO dropped more than a dollar. Call it skill or luck, but I’m happy I timed that right. Now that some of my cash has been transferred I’m pushing my luck/skill again with UCO. This morning, while UCO was trading at $12.62…
S&P 500 Chart – Getting Tired?
I charted the S&P 500 ($SPX.X) after the markets closed on Friday, November 20, 2009 when the SPX finished the week at 1,091.38.
Options Expiration – November 2009
One of the biggest decisions to make when selling options is picking the right strike price. What’s considered the right strike price isn’t a one size fits all. Some investors (I’m saying “investors”, not “traders” because I don’t look at my approach as short-term enough to actually be called trading) might want the maximum premium intake possible while…
Closed NDAQ and UCO Naked Puts
To speed up the clean up of my TD Ameritrade account before I close it I decided to close a couple of my positions early. Depending if today’s broad market drop continues through tomorrow I might have to buy back some of my other options too. I started with NDAQ and UCO because NDAQ was…