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.

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