ETF Covered Calls » Mini Account Trades

Trade – Sell UYG

Investor Host — Sat, 10 Apr 2010 02:20:06 +0000

I got wind that Proshares was going to do a 10 to 1 reverse split on UYG so I wasn’t looking forward to going from 200 shares to 20 which would leave me covered call less so I sold 200 UYG for $7.25 and took a $140 loss. It’s no big deal and I’m glad to be out of that leveraged ETF so what’s done is done.

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.

Trade – Buy/Write UYG/UUFKH

Investor Host — Fri, 24 Oct 2008 18:37:20 +0000

I picked up 200 shares of UYG in my mini account for $7.95 and sold 2 contracts for November $8 strikes @ $1.40 to rake in about 18% ($260) today. I think UYG may drop further but I’m comfortable holding it from here but who knows, maybe all these banks will go bankrupt in the next 30 days…..

Trade – Buy/Write UYG/UUFJB

Investor Host — Mon, 13 Oct 2008 15:27:58 +0000

I finally caved in and bought 100 shares of UYG at $10.08 and sold the October $10.00 strike for $1.05. This will represent a 10% return if I don’t get called or a 9.5% return if I do get assigned in just under 5 days! We’ll see what happens on Friday!

Options Expiry Update

Investor Host — Wed, 25 Jun 2008 00:05:20 +0000

Here is a break down of my positions after June expiry.

Arbitrage Account:

Own 800 XHB @ average cost of $21.26 (400@22.72, 400@19.80), XXJFT expired worthless
Own 400 DDM at cost of $74.30. DDMFX expired worthless

Mini Account:

Own 200 DDM at $77.80, DDMFX expired worthless

Power Account:

Assigned 1000 DXD at $57.00, account now holding cash.
Own 200 QID at $46.75, Sold 2 QIDGU at $0.75

So what to do next? It’s a waiting game; Mini account will have to wait until DDM gets back up to at least $76 while arbitrage account will wait for XHB to pop up above $19 and DDM pops above $72. I’m holding a big chunk of cash in my power account and I may buy 200 share blocks of DDM and sell at-the-money calls over the next few days AFTER the Fed meeting but anything can happen.

Trade – Buy/Write DDM/DDMFZ

Investor Host — Wed, 21 May 2008 18:35:16 +0000

I picked up 200 hundred shares of DDM earlier today in my mini-account at $77.80 and sold 2 contracts for June $78 strikes for $2.60 to rake in $530 today! That represents a 3.3% return in under 31 days!

Trade – Buy To Close DDMEZ/DDM

Investor Host — Thu, 15 May 2008 18:01:48 +0000

I closed my positions in DDM and DDMEZ today. I bought back my DDMEZ options for $1.55 and had previously sold them for $1.90. I sold DDM at $79.12 where I had purchased at $77. Overall I made 3% with the transaction which meets my profit goals. I normally let my options expire or get exercised but I’m expecting DDM to possibly dip low tomorrow/next week and I’ll pick it up again in my Mini-Account when it does…..

Trade – Buy/Write DDM/DDMEZ

Investor Host — Wed, 23 Apr 2008 16:38:22 +0000

I’m on a mission to prove that leveraged ETF’s might be the only ETF you need to own. In particular, the Dow 30 leveraged ETF is one that I’ve decided to try to exclusively trade in my mini-account. I picked up 200 shares of DDM at $77 and sold the May $78 strikes for $1.90. This will be 2.5% return in less than 25 days and if DDM pops over $78 that will bring my return up to 3.7% and as always if DDM is down, I’ll move on to June, July or later calls.

Trade – Buy/Write DDM/DDMDW

Investor Host — Fri, 04 Apr 2008 14:44:38 +0000

In keeping with my new Double Long/Double Short ETF investment strategy, I picked up 200 shares of DDM at $74.60 and sold April $75 calls for $2.05 to rake in about $400 (2.75%) return with two weeks till April expiry. The market is so volatile that I don’t think it matters much whether you’re up or down right now which is why I’m both. I’m now Double Long on the Dow in my Mini Account and Double Short on the Dow in my Power Account; Call it the ultimate leveraged arbitrage.

Later tonight, the ETF-Cashinator will sing me some sweet melodies about opportunities.

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.

Trade – Buy/Write DDM/DDMCT

Investor Host — Wed, 20 Feb 2008 16:31:35 +0000

Raked in $700 in my mini account today as I did a buy/write on Dow Double Long (DDM) and sold in-the-money calls DDMCT for March expiry. Bought 200 DDM @ $72.30 and Sold 2 DDMCT @ $3.60. If I get called I’ll lose about $0.30 per share as I sold the $72 strikes but I’m willing to take the risk. I’ll earn 4.98% (if not called) or 4.56% (if called) in 31 days.

Trade – Sell UNG

Investor Host — Mon, 11 Feb 2008 16:35:38 +0000

I sold off UNG at $41.92 for a small profit. I’m moving my mini-account back to cash because I’m going to experiment with my double down theory. I’ll write more about that later and keep you posted.