ETF Covered Calls

Sell High, Buy Back Low!   I just bought back my 4 contracts of OIHJV for $0.75 after selling them last Thursday for $6.40.  The net profit is $5.65 x 400 = $2,260.00.   The November $110 strikes are selling for about $5 so I can make another $2,000 or I can sell the January $110 strikes for $8.45 to rake in $3,400.    I’ll give it a few more days before I trade either as the day before options expiry is usually a rally day but we’ll wait and see.

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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So much for sitting in cash.  I bought 400 OIH at $109 and sold 4 October $110 strike contracts for $6.40/each today to rake in a little over $2,500.    I consider this a double hedge.  I bought DUG and raked in about $2300 which made me profit from the drop in oil, if oil remains stable or climbs then I’ll profit from owning OIH hopefully.    If oil rises or falls then I’m hedged with my options short positions.   It’s wait and see at this point.   Only 7 business days till October expiry.   So far this month, I’ve raked in over $4500 in cash but I’ve got deep paper losses on some of my other equities like DDM & SSO.

Just because the market is down doesn’t mean you can’t make a little money here and there……

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

Sold 2 contracts QIDIS for $2.80 to rake in about $560.00.   Note that I sold the $45 strikes and NOT the $47 strikes.  I’ve been trying to unwind my QID position for a while even though it’s been profitable primarily to shore up capital to buy SSO or DDM dirt cheap but if QID drops again below $45 then I will have reaped some extra profit and will keep selling QID calls.  If  QID stays above $45 at September expiry then I’ll still earn $0.95 ($190) in profits and revert to cash position as my position is assigned.

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.

I bought back my 4 SSOIN option contracts for $0.10 after selling them for $1.60 about a month ago.   If the market rallies then I’ll resell those same SSOIN (Sept $66) calls for another $1.00 or better over the next week ago.  The market volatility is translating into some extra profits these volatile months.   Looks like my QID position might get some calls sold for September soon!

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.

My 5 SDSHL (August $64 expiry) contracts expired worthless so it’s time to sell September $64 contracts for $3.00. I sold 5 SDSIL contracts and raked in $1,485.00 today in cold hard cash.

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.

I’m a sucker for easy money, let’s hope this bet pays off.  I bought 500 shares of SDS at $64 and sold at-the-money call $64 strike SDSHL (August expiry) for $0.95.   Raked in $461 (1% return) in less than 4 days till expiry.  If  this turns out to be a dog, the Sept. at-the-money calls are selling for $3.30 (5%) premium right now so it may keep gushing out cash.

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.

I sold 4 contracts for September 08 $66 strikes for $1.60 to rake in about $630 (2%) in less than 45 days till expiry.   I placed the order in and didn’t think it would take but someone bought.    If the market tanks again, I’ll buy back these calls cheap, like $0.25 and if I get assigned then I will have earned a good return these past few months and be called out and revert to cash.   I look at it as a win-win in either case.

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.

I’m closing out my short position QIDHU that I sold a few weeks ago at $3.10.  I bought the calls back for $0.25 so I’ve made $3.10 - $0.25 = $2.85 minus commissions per contract.   I’m closing it out because I’ve got a feeling the market may sour next week as the market becomes very volatile during options expiry.   In any event, the September calls are selling for a decent amount.   I am essentially holding no options positions as of today and continue to hold on to these ETFs:  DDM, SSO, and QID in my power funds account.

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.

I closed out my naked put SUCTC for $0.30 that I sold a few weeks ago for $2.80 so in the end I made $2.80 - $0.30 = $2.50 minus commissions. Not bad but I closed it out to free up capital reserves and with the market bouncing up and down every other day, it seems to make sense to wait for the market to drop and try to sell the same put again for another $2.00 or so if it drops dramatically. I can almost see the market dropping in a few days all over again but who knows….

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.

Sold 2 QIDHU contracts @ $3.10 on existing 200 shares of QID I own.   Raked in $600 (7% in under 25 days!) and  that’s phenomenal.    Hopefully, I’ll be called so I can dump the 200 shares of QID during August expiry.    So far, this ETF has yielded me 11% over all from April 08 to August 08.

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.