VLO short (10) $18 puts @ .52. Was assigned, cost average of $17.48. Stock closed at $17.19 so roughly a -$300 loss so far. I haven't decided if I'm going to just sell the stock on Monday for a loss or keep it and sell a covered call. I had to leave the house at 6am on Friday to catch a plane and didn't have Internet access. This position could have been closed out for a gain for most of the day. I had a GTC all day Thursday but it didn't get hit.
SLV short (10) $15 puts @.40. Was assigned, cost average of $14.60. Stock closed at $13.99 so roughly a -$610 loss so far. I intend to keep this as a long-term position and write calls each month.
JPM short (10) $37.50 calls @ .37. Expired worthless for a $363 gain after commissions.
JPM short 910) $31 puts @ .55. Expired worthless for a $547 gain after commissions.
The four naked positions above equal roughly zero as of closing prices, but now I've got additional ongoing risk being long the stock.
TBT I originally did a buy/write with 300 shares on 1/8/09. I paid $42.05 and sold June 09 $50 calls for $3.70. Cost average of $38.35. I was exercised at $50 for a $3495 gain (30% gain but a holding period of 160 days.)
USO I originally did a buy/write with 400 shares on 5/15/09. I paid $32.15 and sold June 09 $32 calls for $1.80. Cost average of $30.35. I was exercised a week ago before expiration for a $660 gain (5.4% gain for 1 month.)
Summary, all the naked bullshit just caused a lot of stress and made nothing. I've basically swapped out long positions in TBT and USO for SLV and VLO. The rough gain is $4155 for this month, however the majority of that was the $3495 on TBT that was really accrued over a 5-6 month window. Especiallly for positions like this that tend to skew the returns for a single month, it's tough to guage what my monthly average is. I just keep a master spreadsheet of total gains and then break it down by weekly, monthtly, and yearly returns. In time hopefully the numbers get smoothed out and will let me make some comparisons.
If I remember your account position that $4155 gain is roughly a 4% return for June which sounds healthy.
ReplyDeleteI was stopped out of my NGAS position this morning at a $600 loss. I bought 2000 shares at $2.4 and sold out at $2.12. Instead of dropping my entire position I should have cut my exposure to maybe half. Also I should have cut my losses shorter and stuck to my original stop at $2.2. Oh well no reason to cry over spilled milk lesson learned...My UNG call positions went into the red today but I have until October to net some gain.
BTW- I'd recommend going to see the movie "Taking of Pelham 1 2 3" there is some great bit of market subplot woven into the story... not to mention the film has that hyper-kinetic, gritty NYC feel.