Archive for the ‘Rick Position - Closed’ Category

BAC - Close Position

Monday, February 23rd, 2009

Today before the market open, I closed my position in Bank of America.  Last month I bought BAC at $6 and sold the $4 strike for $2.28.  Last Friday BAC closed at $3.79 and I wasn't exercised.  Luckily, the financial sector rallied to open the day and I sold out ...

FXI - Close Position

Friday, February 20th, 2009

I had originally sold a Feb $24 strike against FXI, the China ETF, when it was above $27.  It was a small return but in 2 weeks, I didn't think the markets could drop 15+%.  Today, FXI broke below $25 and is currently at $24.70ish.  Zecco has advanced option ordering ...

SSO - Close Position

Friday, February 6th, 2009

I've had orders in my Zecco account to buy SSO at levels of $22 and below.  These orders have gotten hit a few times and last weeks swoon, my $22 order got hit.  Today I sold ALL 6 of my shares at $24.  While it was only $12 in profit,  ...

DRYS - Close Position

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 ...

SSO - Close Position

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 ...

SSO - Close Position

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 ...

DIG - Open/Close Position

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.  ...

BAC - Close Position

Thursday, December 4th, 2008

All of my BAC positions were closed.  I did not get the dividend so I ended up losing the commissions plus a little bit for my second open position.  I am not going to break this one down in great detail because there is nothing to learn from this trade ...