Comments on: ETF Covered Calls 12-26-2008 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/ Dedicated to searching for optimum returns on Exchange Traded Funds via Covered Calls Thu, 29 Dec 2011 21:23:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: The Travelin' Man http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/comment-page-1/#comment-813 The Travelin' Man Fri, 16 Jan 2009 21:40:01 +0000 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/#comment-813 Looks like I will get called away on GDX. I must have gotten some bad info, because they paid no dividend. Still, the take was ~12% after commissions on 22 day hold (I think). Take a look at the GDX chart for the last couple of days. I really thought about buying back my options yesterday - would have made 90% instead of your targeted 80%, but it seemed silly to pay the commission on an option that looked, for sure, to finish out of the money. Oh well...I will probably hold the cash for a little while anyway. In a somewhat related note, I did pick up 300 shares of UYG yesterday at $3.818. I was able to DCA my current position down to where I only need the fund to double for me to break even! :-) I am hoping to sell $4 or $5 calls on the next spike up - and it will come. With this little downside risk, I am OK with holding it for a little while. Could have done the buy-write for ~16% for FEB, but I am going to see what plays out a little. Looks like I will get called away on GDX. I must have gotten some bad info, because they paid no dividend. Still, the take was ~12% after commissions on 22 day hold (I think). Take a look at the GDX chart for the last couple of days. I really thought about buying back my options yesterday – would have made 90% instead of your targeted 80%, but it seemed silly to pay the commission on an option that looked, for sure, to finish out of the money.

Oh well…I will probably hold the cash for a little while anyway.

In a somewhat related note, I did pick up 300 shares of UYG yesterday at $3.818. I was able to DCA my current position down to where I only need the fund to double for me to break even! :-) I am hoping to sell $4 or $5 calls on the next spike up – and it will come. With this little downside risk, I am OK with holding it for a little while. Could have done the buy-write for ~16% for FEB, but I am going to see what plays out a little.

]]> By: The Travelin' Man http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/comment-page-1/#comment-802 The Travelin' Man Tue, 30 Dec 2008 04:30:10 +0000 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/#comment-802 Figured that's what you meant. It just seemed like a good time to take a quick poke! Just so that you don't think I did my math while drunk, my 15% yield calculation includes a dividend of 74.5 c/share that I will collect on 12/31. Happy New Year....enjoy your vacation. I am off to Philly and the northeast myself for a couple of days (stupid boy). TTM Figured that’s what you meant. It just seemed like a good time to take a quick poke!

Just so that you don’t think I did my math while drunk, my 15% yield calculation includes a dividend of 74.5 c/share that I will collect on 12/31.

Happy New Year….enjoy your vacation. I am off to Philly and the northeast myself for a couple of days (stupid boy).

TTM

]]> By: RichSlick http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/comment-page-1/#comment-801 RichSlick Mon, 29 Dec 2008 16:09:23 +0000 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/#comment-801 Lol! I meant after the inauguration of President elect but it may take until 2012 for this market to recover..... Lol! I meant after the inauguration of President elect but it may take until 2012 for this market to recover…..

]]> By: The Travelin' Man http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/comment-page-1/#comment-800 The Travelin' Man Mon, 29 Dec 2008 07:15:22 +0000 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/#comment-800 The election? Why? Is there someone particular you like for 2012? ;-) The election?

Why? Is there someone particular you like for 2012? ;-)

]]> By: RichSlick http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/comment-page-1/#comment-798 RichSlick Sun, 28 Dec 2008 23:28:15 +0000 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/#comment-798 The temptation is there but I've resigned myself to waiting until after the election before trading again....... The temptation is there but I’ve resigned myself to waiting until after the election before trading again…….

]]> By: The Travelin' Man http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/comment-page-1/#comment-797 The Travelin' Man Sun, 28 Dec 2008 15:53:57 +0000 http://www.etfcoveredcalls.com/2008/12/26/etf-covered-calls-12-26-2008/#comment-797 I'll share one of mine with you. I think I felt like I should have made that last deal (QID that I posted a little while back), so I hope I didn't get an itchy trigger finger. I bought 200 GDX ~$29.50 at the beginning of last week. I waited for the price to bump up some through the week, and then sold the Jan 30 calls (when GDX was ~$31.80) for ~$3.15, raking in about $630 after commission. If called at $30, I will make almost 15% for under 30 days hold. I do think that there will be some pull back, which is why I sold in-the-money calls. If it pulls back a bunch, I will look to buy back the calls and re-sell on the next bump up. Hopefully, the entire world economy won't collapse in the next three weeks! I’ll share one of mine with you. I think I felt like I should have made that last deal (QID that I posted a little while back), so I hope I didn’t get an itchy trigger finger.

I bought 200 GDX ~$29.50 at the beginning of last week. I waited for the price to bump up some through the week, and then sold the Jan 30 calls (when GDX was ~$31.80) for ~$3.15, raking in about $630 after commission. If called at $30, I will make almost 15% for under 30 days hold. I do think that there will be some pull back, which is why I sold in-the-money calls. If it pulls back a bunch, I will look to buy back the calls and re-sell on the next bump up.

Hopefully, the entire world economy won’t collapse in the next three weeks!

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