SSO - Open Position
Written on January 31, 2009 – 3:15 pm | by admin
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, $16.50, $18, $19, $20 and $21. I have had these orders in for about 2 months and its only ever gotten down to $21 before rallying. I then sell my 10-14 shares for a 6-10% profit and put the orders in again.
I am doing this to try and build a position in SSO to sell a call against but since I don’t trust the market, I am trying to dip my toes in until I feel more confident.
Tags: Dollar Cost Averaging, SSO
