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 ...
Posted in Rick Position - Closed | No Comments »
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 ...
Posted in Rick Position - New | No Comments »
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 ...
Posted in Rick Position - Closed | No Comments »
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 ...
Posted in Rick Position - New | No Comments »
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 ...
Posted in Rick Position - New | No Comments »
