Archive for January, 2009
Tuesday, January 20th, 2009
I had a limit order in to sell Feb $42 calls @ $2 each. Somehow it hit this morning and I got it off. That premium really gives my position a kick in the pants (annual percentage wise).
Purchased: 100 @ 42.50
Initial Option Income: $1.40
Feb Option Income: $2.00
Other Option Income: $0.00
Expected ...
Posted in Rick Position - Update | No Comments »
Thursday, January 15th, 2009
Into this market downturn, I am looking to build a 100 share position in my Zecco account. I chose this because I can buy in small increments and not get hit with commissions. I have in place a bunch of orders to try and accumulate shares should the market start ...
Posted in Uncategorized | No Comments »
Wednesday, January 14th, 2009
As you may know, I puchased a long dated SPY put (Sep $80) a week or two ago for $6.20. I decided to do this because the biggest thing I learned from all the turmoil in the last year is that never be unprepared for a market catastrophe. To me this ...
Posted in Lessons, Trading | No Comments »
Tuesday, January 13th, 2009
Today I bought back the Feb $7 calls that I sold against my 200 shares of UYG. I sold them at $0.55 and bought them back at $0.15. I did this because I feel the market is at a depressed state and I can sell them again at a higher ...
Posted in Rick Position - Update | No Comments »
Wednesday, January 7th, 2009
I opened a position in TBT today. Its an ultra short of Lehman 20 year treasuries. This falls below my 20% annual threshold but this is a position that I am willing to hold on to because bond yields won't go much lower than what they were a month ago ...
Posted in Rick Position - New | No Comments »
Tuesday, January 6th, 2009
Today I had my first decision on whether to sell the near month option or go out to February. I currently hold 200 UYG. If I were to sell the Jan $7 for $0.15 I make nearly nothing after commissions. If I sell the Jan $6 and get called, I ...
Posted in Lessons, Rick Position - Update | 1 Comment »
Tuesday, January 6th, 2009
Today I sold 2 Jan $30 strike contracts on two of my three SSO positions. I should have done it this morning but it never got to my limit so I sold it while the premiums were still decent.
Position 1:
Purchased: 100 @ 33.85
Initial Option Income: $5.30
Jan Option Income: $0.45
Other Option ...
Posted in Rick Position - Update | No Comments »
Tuesday, January 6th, 2009
I am still skeptical of this rally and the fact that things are better. I still don't see any help for housing or the consumer that is upside-down on their house (not that there should be any). Until there is a housing fix or another earth-shattering plan, I am going ...
Posted in Lessons, Trading | 1 Comment »
Tuesday, January 6th, 2009
I opened a position in EEM a few minutes ago. While I am skeptical of this rally, I think it can hold until Obama actually obtains the title of President. If it doesn't, I'm willing to have some international exposure in my portfolio.
Buy: 100 @ $27.10 ($7 commission)
Initial Investment: ...
Posted in Rick Position - New | No Comments »
Monday, January 5th, 2009
I have decided to close one of my four SSO positions. There are a couple reasons for doing this:
I can close it at a profit
I believe we will go down again
SSO is too large a position
Its leveraged (see above)
I will give you the details of the overall transaction. I am ...
Posted in Rick Position - Closed | No Comments »
