Archive for the ‘Lessons’ Category
Friday, February 13th, 2009
This morning I sold part of my etf position in SSO that I had bought at $21 & $22. I sold the 7 shares I bought yesterday at the day's low around $21. The market wasn't acting the way I thought it would (rally from the start, it actually looks ...
Posted in Lessons, Rick Position - Update | No Comments »
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 »
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 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
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 »
Wednesday, December 10th, 2008
I've recently joined a yahoo group that discusses the covered call strategy. Our most recent discussion was about how to calculate returns for a position. They way I currently do it was very different than the way the majority of the people in the discussion did it. The ...
Posted in Lessons | No Comments »
Monday, December 8th, 2008
Today I attempted to open a position in DIG. I purchased 100 shares near the end of the day at 27.87. I was trying to sell the $23 strike for $5.70 which would have yielded 2.34% or 31% annually. My purhcase was on the little bump around 2:55 CST time. ...
Posted in Lessons, Rick Position - Closed, Rick Position - New | 1 Comment »
Thursday, December 4th, 2008
Wednesday 12/3 was the ex-dividend date for BAC. On Monday and Tuesday I sold some deep in the money calls ($2.50 strike) assuming that anyone buying these would not be exercising them on Tuesday for the dividend since the 2.50 strike had no premium and it would be just like ...
Posted in Lessons | No Comments »
