Archive for the ‘Rick Position - Closed’ Category
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 ...
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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 ...
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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, ...
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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 ...
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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 ...
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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 ...
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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
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 ...
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