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 ...
Posted in Rick Position - Update | No Comments »
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 ...
Posted in Lessons, Rick Position - Update | No Comments »
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+% ...
Posted in Rick Position - New | No Comments »
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, ...
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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, ...
Posted in Rick Position - Closed | No Comments »
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, ...
Posted in Rick Position - New | No Comments »
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 ...
Posted in Rick Position - Update | No Comments »
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 ...
Posted in Rick Position - Closed | No Comments »
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 ...
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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 ...
Posted in Rick Position - Update | No Comments »
