Closed income position on JOSB
By Mike | October 24, 2007
JOSB dropped today and I was able to buy back the call at a return of 2.75% over a 37 day period. Not bad.
I have income positions open on GDP and TOL for over 30 days. TOL is close to closing out, GDP is going the wrong way. May have to do another SSR on that one.
That’s it for today…
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Oct07 option month totals
By Mike | October 21, 2007
It was a down day for the last day of the option month. It really didn’t affect me because I only had one position (SNDK) with a open call. As I stated earlier it didn’t matter if it was called away or not, I still made 5% on the position.
I did close one income position (HOV) with a return of 2% over a 22 day period. I still have TOL, JOSB and GDP with open income positions. Friday helped get the position back ITM.
I also closed one CC position (EK) earlier in the month for a return of 5.17%.
The overall return for the month was .48%. Way short of the 4% I am shooting for. It was an odd month, most of the month was trending up and the last day it dropped like a rock. The DOW for this option month was -2.49%.
Click Here to see all my closed positions.
My current open positions are:
CBI
GDP
JOSB
SNDK
HOV
TOL
Click Here to see all my income positions.
That’s it for today…
Technorati Tags: CBI, GDP, JOSB, SNDK, HOV, TOL
Topics: Covered Calls | No Comments »
Added to SNDK
By Mike | October 12, 2007
There was a fantastic opportunty to increase the SNDK position with a ATM CC and take a 5% return and only hold it a week. The is no real rule for doing this, but I could not refuse because there was nothing to lose. If it gets called on next Friday, I take the 5% and go on. If it doesn’t I take the 5% and lower my cost from 70 to 57.
I really doubt I will get any more position this month with only a week to go. The income positions are not turning so it looks like I won’t be a very good return month.
That’s it for today…
Topics: Covered Calls | No Comments »
