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Archive for January, 2009

DRYS - Close Position

Saturday, January 31st, 2009

Thanks to some adivce from covered callers, I dumped my DRYS position after its 20% fall on Thursday.  I bought my $10 strike back for $1 and sold my shares at $8.865. Bought 300 DRYS @ $11.95 ($7 commission) Sold Feb $10s @$2.60 ($10.75 commission) Bought Feb $10s @$1.00 ($10.75 commission) Sold 300 DRYS ...

SSO - Open Position

Saturday, January 31st, 2009

As I said in my last SSO post, I had entered orders again at $21 & $22.  On Friday, my $22 got hit and I own 6 shares of SSO again.  I use Zecco for this so the trade is commission free.  I have orders to buy more at $14, ...

SSO - Update Position

Thursday, January 29th, 2009

Into yesterday's rally, I sold the $27 strike for one of my SSO positions.  If I get called away, I will have a slight loss.  I'm not expecting SSO to get that high but I wanted some premium this month.  Hopefully SSO closed the option period at 26.75.  That would ...

DRYS - Open Position

Thursday, January 29th, 2009

Yesterday I initiated a position in DRYS.  Today I am terrified that I own it.  Stupid.  I'm looking for ideas on this one. Buy: 300 @ $11.95 ($7 commission) Initial Investment: $3592.00 Sold: $10 strike @ $2.60 ( $10.75 commission) Net Investment: $2822.75 Expected Return: 5.42% (not anymore) Anyone got advice on what to do?

SSO - Close Position

Thursday, January 29th, 2009

For those that have been following along, you know that I have been trying to average into an SSO position as the market moves down.  Last week I bought 6 shares at both the $21and $22 levels.  Yesterday, I sold them as the market ripped higher.  I sold them at ...

EEM - Update Position

Monday, January 26th, 2009

Last Friday I made the decision to sell a lower strike price for my EEM.  I put an order in to sell the Feb $25 and it was taken on this mornings pop.  If I were to get called away at $25, I would be at a 3.17% loss for ...

SSO - Update Position

Thursday, January 22nd, 2009

Last week I said I was going to scale into a position in SSO until I felt the time was right to turn it into a covered call.  Shortly after I bought my first shares at ~$22, the market rallied and my shares went up 6%.  Since this was in ...

January Expiration Wrap Up

Tuesday, January 20th, 2009

I am going to start providing a month end review of what transpired.  I will not show details of individual trades here because I am going to get a real-time position page up and running soon.  Don't worry, it will also show my closed positions.  This is going to be ...

AA - Update Position

Tuesday, January 20th, 2009

I sold some Feb $10 calls on my Alcoa position.  I'm not waiting for better premiums for one main reason.  My annual percentage return went up for the price I sold them at today and I'm hesitant that we will get much of a bounce.  I would rather lock in ...

USO - Open Position

Tuesday, January 20th, 2009

My Jan position got called away so I am going back to the well with USO.  This time I went one strike farther down.   The details: Buy: 100 @ $30.41 ($7 commission) Initial Investment: $3048.00 Sold: $27 strike @ $4.60 ( $8.25 commission) Net Investment: $2596.25 Expected Return: 3.04% I am ok with holding this ...