Monday, July 25, 2011

Nothing new.

I haven't posted any trades lately because I am doing very little at the moment. Holding a big position in RMBS that was gotten by getting assigned on my naked puts. Also holding my positions in DIS and QCOM. With the debt uncertainty going on I prefer to stay out of the options game for awhile and work on my golf game instead. Will start posting again when I become more active in the market.
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7 comments:

  1. UnknownJuly 26, 2011 at 9:30 PM

    I like the strategy, I'm referring to the golf.

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  2. sandeepOctober 4, 2011 at 7:38 AM

    New trade - sold the Oct. 20 calls on my large RMBS stock position for an average of $1.12 this morning. This brings down my average cost of those shares a fair amount, I will be quite pleased if they get called away.

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  3. sandeepOctober 25, 2011 at 5:33 AM

    New trade - Oct.20 covered calls on RMBS all expired worthless. Sold the Nov. 18 calls on half my stock position for $2.15 yesterday. Brings my average purchase price way down now, and since I got these shares put to me at 17 the trade is showing a good profit at this time.

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  4. Jason HaasOctober 25, 2011 at 9:55 AM

    I was wondering where you cost average was. I couldn't remember if you had originally sold puts at the 17 strike or the 15 like I did. That was a nasty ride but that's why you just sell calls every single month. I haven't been following the lawsuit story that's been bumping up the premiums the last few months, have you heard anything?

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  5. sandeepOctober 25, 2011 at 4:18 PM

    I know that the jury in California has been deliberating for a few weeks now, so a decision in that case is imminent which will likely move the shares sharply in either direction. Riding these shares down to the low of $10 was not very pleasant, but at least if it happens again after the verdict comes out it won't be nearly as bad now that I have got my cost basis down significantly. Obviously if we catch a break and get a verdict in favor of RMBS it will be a very nice profit.

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  6. sandeepOctober 26, 2011 at 8:08 AM

    Just sold the Nov. 20 calls on a quarter of my RMBS position for $1.11. Three quarters of my shares are now covered for Nov. expiration.

    ReplyDelete
  7. sandeepOctober 26, 2011 at 4:06 PM

    Sold calls on the remainder of my RMBS shares today - Nov. 20 calls for an average of $1.15.

    ReplyDelete

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