Ultra S&P ETF (SSO) - Position Update

Thursday, March 12th, 2009

Like I said I was going to do a few days ago, I sold my remaining calls when the S&P got to 741.  Seeing that the market ran another percent and a half, I may have to roll these positions.  Hopefully the market will take next week off and not ...

SSO - Position Update

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 ...

SSO - Open Position (Partial)

Thursday, February 12th, 2009

Three days ago, my order to buy 6 shares of the SSO etf was triggered at $22.  Today, my order to buy 7 shares at $21 was triggered.  I was debating whether or not to sell my 13 shares at the end of the day and lock in a 4+% ...

SSO - Position Update

Friday, February 6th, 2009

Into today's rally, I sold 2 Feb $26 strikes on my remaining SSO positions.  While this strike would put me at a loss for the position if I get called away, I will take my premium now and hope the market doesn't get there.  since I don't trust the rally, ...

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,  ...

SSO - Open Position

Saturday, January 31st, 2009

As I said in my last SSO post, I had entered orders again at $21 & $22.  On Friday, my $22 got hit and I own 6 shares of SSO again.  I use Zecco for this so the trade is commission free.  I have orders to buy more at $14, ...

SSO - Update Position

Thursday, January 29th, 2009

Into yesterday's rally, I sold the $27 strike for one of my SSO positions.  If I get called away, I will have a slight loss.  I'm not expecting SSO to get that high but I wanted some premium this month.  Hopefully SSO closed the option period at 26.75.  That would ...

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 - Update Position

Thursday, January 22nd, 2009

Last week I said I was going to scale into a position in SSO until I felt the time was right to turn it into a covered call.  Shortly after I bought my first shares at ~$22, the market rallied and my shares went up 6%.  Since this was in ...

SSO - Position Update

Tuesday, January 6th, 2009

Today I sold 2 Jan $30 strike contracts on two of my three SSO positions.  I should have done it this morning but it never got to my limit so I sold it while the premiums were still decent. Position 1: Purchased: 100 @ 33.85 Initial Option Income: $5.30 Jan Option Income: $0.45 Other Option ...