ETF Covered Calls

The cash keeps tumbling in but we’ll see what January holds; the volatility is still high.   I did end up getting called on my SSO options at $86 as someone out there must have wanted those shares badly enough.   I did capture a dividend but held a short position so the dividend was a wash. Here are this weeks ETF-Cashinator picks for the end of 2007. May you have a profitable new year!

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

I picked up 200 shares of OIH for $189.50 in my arbitrage account and sold January $190 strikes for $5.00 OIHAR to rake in $1000.00 today.   I went ahead and extended my arbitrage rollover and the new expiration date on the 0% APR is now June 2008 so I’ll keep trading on this account.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

Looks like my SSO gambit paid out. I won’t be called as SSO closed slightly under the strike price. I’ll figure out what to do next week. If the rally continues then I’ll sell or write January strikes for additional profit. I will caution that the ETF-Cashinator is kicking out a large number of ETFs for options trading and this has been consistent with wild swings and volatility so be careful out there. Here are this weeks ETF-Cashinator picks.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

I saw a quick opportunity to pick up $500 so I took it.  I bought 500 SSO at $85.50 and sold the December 07 $86 strikes for about $1.00 to rake in about $475.  If called, I’ll make another $250 or so.  If not, I’ll unwind this position.  With this volitility it shouldn’t be too hard to do.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

Sorry about the late post. I’ve got a few huge projects at work and I’m now just getting home at midnight. I’m 100% cash in my arbitrage and power accounts. Mini account holds on to UNG. Here are this week’s ETF-cashinator picks.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

I’m unwinding my arbitrage account.  The transactions were XXXXX’d out and I’d previously say I’d reveal what they were after the quarter ended.  Since I am no longer holding the position I don’t think it matters now.   As for reasons I wrote about in my previous post, I don’t like where this market is heading right now.  I’ve got a very bad feeling at the pit of my stomach, my spidey sense is tingling, I sense a disturbance in the force and the fed meets tomorrow.

Good luck with your trades.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

I’m closing all my positions in my power account.  I’ve got a really bad feeling and I didn’t want my power funds account to get clobbered.  Bank of America just froze redemptions on one of their money market accounts and this doesn’t bode well at all for me.   I’ll do the math later but I think I lost about $190 in the transaction and I’m ok with a tiny loss vs. a very large one.  The Fed meets tomorrow and I simply don’t feel comfortable with what they’re going to end up doing so I’m out.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

Another crazy week is over.  My EWZ has skyrocketed back from a low of about $76 to $85.50 today.  Amazing!  Profits when the market goes down and profits when the market rallies.  I love it!    Only two more weeks before December expiry.  Here is a look at this weeks ETF-Cashinator picks.

This website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.