ETF Covered Calls

Have a Happy Thanksgiving.  Here’s the goole link for the ETF-Cashinator Report.

ETF Covered Calls 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.

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It looks like OIH will NOT be assigned and I still own 400 shares of OIH at $118.  Imagine that, OIH popped all the way up to $130 then back down to $117.  I’m going to sit on OIH for a while and sell calls if it swings above $122 and buy $120 puts if they drop below $0.40 to see how that pans out.

Just ran the ETF-Cashinator and I wish I could tell you that the Cashinator fought the good fight, and the volatility let it be. I wish I could tell you that – but this market is no fairy-tale world. The cashinator never said who did it, but we all knew. Things went on like that for awhile – this market  consists of routine, and then more routine. Every so often, the ETF-Cashinator would show up with fresh bruises. The volatility kept at him – sometimes he was able to fight ‘em off, sometimes not. And that’s how it went for the cashinator – that was its routine. I do believe these last two years have been the worst for it, and I also believe that if things continue on this way, this place would have got the best of the cashinator…but now we only have one more expiry for 2009!

Here’s the google link.

ETF Covered Calls 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.

© ETFCoveredCalls.com

Ran the ETF-Cashinator tonight to see what is happening with the world.   Here is the google link.    Things are looking choppy and I’m holding to my thesis of a big sell off between now and end of the year…might roll into January….I hoping OIH will hold above $120 thru Friday to cash out via assignment.  Still long on call options $24 strike March 2010 on UUP.

ETF Covered Calls 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.

© ETFCoveredCalls.com

With only a week before November expiry, I’m getting a bit anxious.  I’m expecting another pullback next week but who knows what’ll happen.  Here’s the google link.

ETF Covered Calls 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.

© ETFCoveredCalls.com

Earlier today I purchased 50 contracts on UUPCY (March 2010 $24 strikes) @ $1350.00. UUP is the US Dollar Index ETF.  It seems everyone and their dog is bashing the USD and most countries around the world can no longer sustain the fall so I’m expecting a big snap back.   I could be wrong and the USD continues to slide buy I also bought the calls as an insurance against my OIH holdings.     If the USD does crash then oil will come down and so will OIH.   I’m already long/short on OIH so I’m adding additional options in the event of a dollar rally.   We’ll see how that pans out.

ETF Covered Calls 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.

© ETFCoveredCalls.com

The ETF-Cashinator produced some results and it looked promising, the options for December looked stable but then I took a gander at January and it looks pretty volatile and shaky.  I’m guessing we’re going to have a tax loss harvest this December which may spill over into January.    Here is the google link.  Report below:

ETF Covered Calls 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.

© ETFCoveredCalls.com

I wanted to wait until the end of October before considering some action and since it’s November I decided to dip my toe in the water.  I bought 400 shares of OIH at $118.32  this morning and sold 4 OIHKD (Nov $120) @ $3.68 to rake in close to $1,500 for the day.    If I get assigned I’ll have made $3.68+$1.68 = $5.36 x 400 = $2,144 or about 4.5% in three weeks.   If I don’t get assigned then I’ve averaged down my break even at $114.64 which is a decent place to own OIH.    I’m keeping a reserve of 50k to buy more OIH if it dips below $100 over the next few weeks before expiry but hopefully that won’t happen.

OIH has been very volatile but there is plenty of good money to be made if you can stomach the ups and downs.  At the end of the day, I decided OIH is a good long term play come rain or shine over the next 12 months so I’ll probably keep playing it.   The downside of course is that you need at least $12,000 to buy about 100 shares to even play in the game

ETF Covered Calls 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.

© ETFCoveredCalls.com