Monday, March 18, 2013

Mini Options Are Here

A few weeks back I wrote a post about mini options coming available, well guess what...they are finally here. If you use the think or swim trade platform than you probably got an email letting you know that they were available and a short list of the underlying's that would have listed mini options for you to trade. What you probably did not get is that the CBOE has decided they will not charge retail investors any fees to trade them.

Here are the stocks you can trade minis on: GLD, SPY, AAPL, GOOG, AMZN.

Although I am very excited to finally have a comfortable way to trade options on these "Big" guys, There are two things I need to happen before I do:

1) Volatility to come back

2) And time to pass to see how liquid they will be

Until both of these criteria are met I don't anticipate I will be trading them anytime in the next couple of weeks.

But I will say that if you all ready have some small positions in any of these names, it may make sense depending on your position and price point to sell some calls against your positions. I know I have been beating a dead horse here on the covered call. But this is the strategy that I have been teaching my in person group and feel like it is the one everyone should be most familiar with.

Still no new positions for me. The SPY is about $1.80 off its high for the year at $156.80. I am still anticipating a test of the 2007 all time highs, and soon. Other than that I continue to sit tight on my positions and watch the companies I am holding deposit money in my account via the dividends they pay out. With the exception of my position in CLF, everyone of my positions is in the money (ITM).

Good Luck Trading!

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