Archive for January, 2009
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 ...
Posted in Lessons, Rick Position - Closed | No Comments »
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, ...
Posted in Rick Position - New | No Comments »
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 ...
Posted in Rick Position - Update | No Comments »
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?
Posted in Rick Position - Open Orders | No Comments »
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 ...
Posted in Rick Position - Closed | No Comments »
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 ...
Posted in Rick Position - Update | 1 Comment »
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 ...
Posted in Rick Position - Update | No Comments »
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 ...
Posted in Month End Review | No Comments »
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 ...
Posted in Rick Position - Update | No Comments »
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 ...
Posted in Rick Position - New | No Comments »
