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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 ...

BAC - Open Position

Friday, February 6th, 2009

While I have been trying to stay away from the banks, I decided that I would initiate a position in Bank of America today.  Over the past 2 days, it has plummeted to a low of 3.77 on tremendous volume.  With the news about BAC maybe being "forced" to buy ...

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 ...

BAC - Open Position

Tuesday, December 2nd, 2008

Today I opened another position in BAC (Bank of America). Buy: 200 @ $13.55 ($7.00 commission) Initial Investment: $2717 Sold: $2.50 strike @ $11.00 ( $9.50 commission) Net Investment: $526.50 Expected Dividend: $64.00 Expected Return: 3.87% (-7.92% if called before 12/3) I see this as almost no risk money. No person buys ...

BAC - Open Position

Monday, December 1st, 2008

Today I opened a position in BAC (Bank of America).  I was looking at this stock because it goes ex-dividend on 12/3 and was yielding around 8%.  Since the market is so volatile these days, I wanted a stock/option combination that provided good downside protection while still giving a good ...