SLV may roll over and head a little lower as it looks as if a pivot was created at of the end of the day. SLV continues to make lower HIGHS and lower LOWS which are signs of a continued downtrend for the past 3 months.
4/27/2009 Sell to Open SLV May $13 Call 10 contracts @ $0.30
Again, this is the other half of my total shares so it reduces my cost basis another $0.15
Cost basis: ($11.775) = ($11.925) - $0.15
Looking at selling a deeper in the money call of FXB as it rejected the $150 mark. I will buy back the May contract and look at selling a $140 June contract.
Monday, April 27, 2009
Friday, April 24, 2009
USO MAY $28 CALL IS IN-THE-MONEY. ROLLED OUT TO JUNE IN ORDER TO AVOID BEING ASSIGNED
USO
03/20/09 Buy to Open 16 USO Jan. 2011 $31 Calls ($8.20)
Sell to Open 16 USO April $31 Calls at $1.70
Cost basis is ($8.20) - $1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 USO May $28 Calls @ $1.30
Cost basis: ($6.50) - $1.30 = ($5.20)
4/24/09 Buy to Close 16 +UBOEB May $28 Call @ $1.95
Sell to Open 16 +UBOFB June $28 call @ $2.70
Cost basis ($4.55) = ($5.20) - $0.75
03/20/09 Buy to Open 16 USO Jan. 2011 $31 Calls ($8.20)
Sell to Open 16 USO April $31 Calls at $1.70
Cost basis is ($8.20) - $1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 USO May $28 Calls @ $1.30
Cost basis: ($6.50) - $1.30 = ($5.20)
4/24/09 Buy to Close 16 +UBOEB May $28 Call @ $1.95
Sell to Open 16 +UBOFB June $28 call @ $2.70
Cost basis ($4.55) = ($5.20) - $0.75
Thursday, April 23, 2009
SLV MAKNG A MOVE HIGHER
SLV
03/04/2009 Bought 2000 SLV @ $12.85
Sold 10 SLVCM March $13 call @ $0.50 (This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85) - $0.25
Bought to close 10 SLVCM March $13 call @ $0.41Sold to open 10 SLVDM April $13 call @ $0.91 (This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60) - $0.25
April contract expired wothless.
Sell to open SLV May $12 Call 10 contracts at $0.55
Cost basis = (12.075) = ($12.35) - $0.275
4/23/2009 Sell to open 10 contracts SLV May $13 @ $0.30
Cost basis: ($11.925) = ($12.075) - $0.15
GLD LEAPs
02/26/09 Buy to Open 3 GLD Jan 2011 $100 Calls
Sell to Open 3 GLD Mar $100 Calls
Cost basis ($18.60)
March contract expired worthless allowing me to pocket the whole premium.
Sell to open 3 GLD April $95 Calls at $1.50 Cost basis ($17.10) = ($18.60)-$1.50
April call expired worthless too so I am going to wait a little bit on this one to see if the price will rise so I can sell a May call.
USO
03/20/09 Buy to Open 16 USO Jan. 2011 $31 Calls ($8.20)
Sell to Open 16 USO April $31 Calls at $1.70
Cost basis is ($8.20) - $1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 USO May $28 Calls @ $1.30Cost basis: ($6.50) - $1.30 = ($5.20)
FXB
Buy to Open 2 FXB Sep $140 Put at ($7.15)
Sell to Open 2 FXB Mar $140 Puts at $1.72
Cost basis ($5.43) = ($7.15) - $1.72
Buy to Close 2 FXB Mar $140 Puts at ($2.90)
Sell to Open 2 FXB Apr $140 at $4.30
Put Cost basis ($5.43) - $1.40 = ($4.03) April Put expires worthless4/22/2009
Sell to Open 2 FXB May $142 Put at $1.10
Cost basis ($2.93) = ($4.03) - $1.10
03/04/2009 Bought 2000 SLV @ $12.85
Sold 10 SLVCM March $13 call @ $0.50 (This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85) - $0.25
Bought to close 10 SLVCM March $13 call @ $0.41Sold to open 10 SLVDM April $13 call @ $0.91 (This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60) - $0.25
April contract expired wothless.
Sell to open SLV May $12 Call 10 contracts at $0.55
Cost basis = (12.075) = ($12.35) - $0.275
4/23/2009 Sell to open 10 contracts SLV May $13 @ $0.30
Cost basis: ($11.925) = ($12.075) - $0.15
GLD LEAPs
02/26/09 Buy to Open 3 GLD Jan 2011 $100 Calls
Sell to Open 3 GLD Mar $100 Calls
Cost basis ($18.60)
March contract expired worthless allowing me to pocket the whole premium.
Sell to open 3 GLD April $95 Calls at $1.50 Cost basis ($17.10) = ($18.60)-$1.50
April call expired worthless too so I am going to wait a little bit on this one to see if the price will rise so I can sell a May call.
USO
03/20/09 Buy to Open 16 USO Jan. 2011 $31 Calls ($8.20)
Sell to Open 16 USO April $31 Calls at $1.70
Cost basis is ($8.20) - $1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 USO May $28 Calls @ $1.30Cost basis: ($6.50) - $1.30 = ($5.20)
FXB
Buy to Open 2 FXB Sep $140 Put at ($7.15)
Sell to Open 2 FXB Mar $140 Puts at $1.72
Cost basis ($5.43) = ($7.15) - $1.72
Buy to Close 2 FXB Mar $140 Puts at ($2.90)
Sell to Open 2 FXB Apr $140 at $4.30
Put Cost basis ($5.43) - $1.40 = ($4.03) April Put expires worthless4/22/2009
Sell to Open 2 FXB May $142 Put at $1.10
Cost basis ($2.93) = ($4.03) - $1.10
Wednesday, April 22, 2009
SOLD SOME MAY SILVER (SLV) OPTIONS AND FXB MAY OPTIONS
SLV
03/04/2009 Bought 2000 SLV @ 12.85
Sold 10 SLVCM March $13 call @ $0.50 (This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85) - $0.25
Bought to close 10 SLVCM March $13 call @ $0.41
Sold to open 10 SLVDM April $13 call @ $0.91 (This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60) - $0.25
4/22/2009 Sold another covered call on half of my positions:
SLV May $12 Call 10 contracts at $0.55
Cost basis = (12.075) = ($12.35) - $0.275
GLD - bought LEAPs
02/26/09 Buy to Open 3 GLD Jan 2011 $100 Calls
Sell to Open 3 GLD Mar $100 Calls
Cost basis ($18.60)
March contract expired worthless allowing me to pocket the whole premium.
Sell to open 3 GLD April $95 Calls at $1.50
Cost basis ($17.10) = ($18.60)-$1.50
April call expired worthless too so I am going to wait a little bit on this one to see if the price will rise so I can sell a May call.
USO
03/20/09Buy to Open 16 USO Jan. 2011 $31 Calls ($8.20)
Sell to Open 16 USO April $31 Calls at $1.70
Cost basis is ($8.20) - $1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 USO May $28 Calls @ $1.30
Cost basis: ($6.50) - $1.30 = ($5.20)
FXB
Buy to Open 2 FXB Sep $140 Put at ($7.15)
Sell to Open 2 FXB Mar $140 Puts at $1.72
Cost basis ($5.43) = ($7.15) - $1.72
Buy to Close 2 FXB Mar $140 Puts at ($2.90)
Sell to Open 2 FXB Apr $140 at $4.30 Put
Cost basis ($5.43) - $1.40 = ($4.03)
April Put expires worthless
4/22/2009 Sell to Open 2 FXB May $142 Put at $1.10
Cost basis ($2.93) = ($4.03) - $1.10
03/04/2009 Bought 2000 SLV @ 12.85
Sold 10 SLVCM March $13 call @ $0.50 (This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85) - $0.25
Bought to close 10 SLVCM March $13 call @ $0.41
Sold to open 10 SLVDM April $13 call @ $0.91 (This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60) - $0.25
4/22/2009 Sold another covered call on half of my positions:
SLV May $12 Call 10 contracts at $0.55
Cost basis = (12.075) = ($12.35) - $0.275
GLD - bought LEAPs
02/26/09 Buy to Open 3 GLD Jan 2011 $100 Calls
Sell to Open 3 GLD Mar $100 Calls
Cost basis ($18.60)
March contract expired worthless allowing me to pocket the whole premium.
Sell to open 3 GLD April $95 Calls at $1.50
Cost basis ($17.10) = ($18.60)-$1.50
April call expired worthless too so I am going to wait a little bit on this one to see if the price will rise so I can sell a May call.
USO
03/20/09Buy to Open 16 USO Jan. 2011 $31 Calls ($8.20)
Sell to Open 16 USO April $31 Calls at $1.70
Cost basis is ($8.20) - $1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 USO May $28 Calls @ $1.30
Cost basis: ($6.50) - $1.30 = ($5.20)
FXB
Buy to Open 2 FXB Sep $140 Put at ($7.15)
Sell to Open 2 FXB Mar $140 Puts at $1.72
Cost basis ($5.43) = ($7.15) - $1.72
Buy to Close 2 FXB Mar $140 Puts at ($2.90)
Sell to Open 2 FXB Apr $140 at $4.30 Put
Cost basis ($5.43) - $1.40 = ($4.03)
April Put expires worthless
4/22/2009 Sell to Open 2 FXB May $142 Put at $1.10
Cost basis ($2.93) = ($4.03) - $1.10
Monday, April 20, 2009
DAY AFTER OPTIONS EXPIRED
Continuing trade on Silver (symbol SLV)
03/04/2009 Bought 2000 SLV @ 12.85 (25,700.00)
Sold 10 SLVCM March $13 call @ $0.50 (This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85-$0.25)
Bought to close 10 SLVCM March $13 call @ $0.41
Sold to open 10 SLVDM April $13 call @ $0.91(This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60 - $0.25)
I am going to wait a little bit to see if there will be a small bounce in the price before selling another call.
GLD: Opened 02/26/09 Buy to Open 3 OQAAV Net Debit ($19.62) GLD Jan 100 Call 2011
Sell to Open 3 GLDCV Net Credit $1.02 GLD Mar 100 Call
Cost basis ($18.60)
March contract expired worthless allowing me to pocket the whole premium.
Sell to open 3 contracts April $95 call Net Debit ($1.50) GLD
Cost basis ($17.10) = ($18.60)-$1.50
April call expired worthless too so I am going to wait a little bit on this one to see if the price will rise so I can sell a May call.
What a difference a day makes. I watched as my USO contract expired last Friday, but today USO is down 7%. That doesn't help selling a May $31 call to reduce my cost basis of my Jan. 2011 $31 LEAP. So I am going to go lower with my strike price but still sell out of the money.
03/20/09
Buy to Open 16 contracts Jan. 2011 $31 call contracts OLLAE ($8.20)
Sell to Open 16 April $31 call contracts UBODE $1.70
So my cost basis is ($8.20)-$1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 contracts +UBOEB May $28 Call @ $1.30
Cost basis: ($6.50) - $1.30 = ($5.20)
Still sitting on my FXB $140 put as FXB may be headed back down. Will wait to sell May put.
03/04/2009 Bought 2000 SLV @ 12.85 (25,700.00)
Sold 10 SLVCM March $13 call @ $0.50 (This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85-$0.25)
Bought to close 10 SLVCM March $13 call @ $0.41
Sold to open 10 SLVDM April $13 call @ $0.91(This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60 - $0.25)
I am going to wait a little bit to see if there will be a small bounce in the price before selling another call.
GLD: Opened 02/26/09 Buy to Open 3 OQAAV Net Debit ($19.62) GLD Jan 100 Call 2011
Sell to Open 3 GLDCV Net Credit $1.02 GLD Mar 100 Call
Cost basis ($18.60)
March contract expired worthless allowing me to pocket the whole premium.
Sell to open 3 contracts April $95 call Net Debit ($1.50) GLD
Cost basis ($17.10) = ($18.60)-$1.50
April call expired worthless too so I am going to wait a little bit on this one to see if the price will rise so I can sell a May call.
What a difference a day makes. I watched as my USO contract expired last Friday, but today USO is down 7%. That doesn't help selling a May $31 call to reduce my cost basis of my Jan. 2011 $31 LEAP. So I am going to go lower with my strike price but still sell out of the money.
03/20/09
Buy to Open 16 contracts Jan. 2011 $31 call contracts OLLAE ($8.20)
Sell to Open 16 April $31 call contracts UBODE $1.70
So my cost basis is ($8.20)-$1.70 = ($6.50)
April $31 call expired worthless.
Sell to Open 16 contracts +UBOEB May $28 Call @ $1.30
Cost basis: ($6.50) - $1.30 = ($5.20)
Still sitting on my FXB $140 put as FXB may be headed back down. Will wait to sell May put.
Wednesday, April 15, 2009
OPTIONS EXPIRING SOON
I have had to just sit back for the past few weeks and do nothing. My options are expected to expire out of the money soon so this was a profitable month.
Here is another trade that I am in relating to Silver (symbol SLV)
03/04/2009 Bought 2000 SLV @ 12.85 (25,700.00)
Sold 10 SLVCM March $13 call @ $0.50
(This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85-$0.25)
Bought to close 10 SLVCM March $13 call @ $0.41
Sold to open 10 SLVDM April $13 call @ $0.91
(This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60 - $0.25)
The gold contract will also expire worthless so I keep my cost basis at -$17.10
GLD: Opened 02/26/09
Buy to Open 3 OQAAV Net Debit ($19.62) GLD Jan 100 Call 2011
Sell to Open 3 GLDCV Net Credit $1.02 GLD Mar 100 Call
Cost basis ($18.60)
March contract expired. Selling April call closer to current price of $90 since $100 call is only $0.50
Sell to open 3 contracts April $95 call Net Debit ($1.50) GLD Apr 95 Call
Cost basis ($17.10) = ($18.60)-$1.50
For some reason, I forgot to mention that I opened another long term LEAP by buying it and selling an April call. I opened up on March 20th. I bought a Jan. 2011 $31 LEAP on the symbol USO which is for the United States Oil Fund.
Buy to Open 16 Jan. 2011 $31 call contracts OLLAE at a cost to me of ($8.20)
Then sold an April contract immediately:
Sell to Open 16 April $31 call contracts UBODE at a collection of $1.70
So my cost basis is ($8.20)-$1.70 = ($6.50)
This April $31 call contract will expire worthless so my cost basis is ($6.50) and I will roll another contract out in May.
Here is another trade that I am in relating to Silver (symbol SLV)
03/04/2009 Bought 2000 SLV @ 12.85 (25,700.00)
Sold 10 SLVCM March $13 call @ $0.50
(This reduced my cost basis by only $0.25 since I had 2000 shares and I sold only 10 contracts)
Cost basis = ($12.60) = ($12.85-$0.25)
Bought to close 10 SLVCM March $13 call @ $0.41
Sold to open 10 SLVDM April $13 call @ $0.91
(This reduced my cost basis another $0.25 since I rolled my 10 contracts and this covers one-half of my total shares)
Cost basis = ($12.35) = ($12.60 - $0.25)
The gold contract will also expire worthless so I keep my cost basis at -$17.10
GLD: Opened 02/26/09
Buy to Open 3 OQAAV Net Debit ($19.62) GLD Jan 100 Call 2011
Sell to Open 3 GLDCV Net Credit $1.02 GLD Mar 100 Call
Cost basis ($18.60)
March contract expired. Selling April call closer to current price of $90 since $100 call is only $0.50
Sell to open 3 contracts April $95 call Net Debit ($1.50) GLD Apr 95 Call
Cost basis ($17.10) = ($18.60)-$1.50
For some reason, I forgot to mention that I opened another long term LEAP by buying it and selling an April call. I opened up on March 20th. I bought a Jan. 2011 $31 LEAP on the symbol USO which is for the United States Oil Fund.
Buy to Open 16 Jan. 2011 $31 call contracts OLLAE at a cost to me of ($8.20)
Then sold an April contract immediately:
Sell to Open 16 April $31 call contracts UBODE at a collection of $1.70
So my cost basis is ($8.20)-$1.70 = ($6.50)
This April $31 call contract will expire worthless so my cost basis is ($6.50) and I will roll another contract out in May.
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