What a volatile month! For Mar's play, new covered calls positions on STLD & GG were placed. The options expired worthless & secondary calls will be written of course. As for the other positions such as Dell, NVDA, CSCO, INTC, their share prices are below their original purchase price & have fallen even lower after the Shanghai surprise. Their respective call options were bought back profitably when the market rebounded & new LEAPs call options written to generate additional income. As of Friday Mar 16, the LEAPs calls can be bought back profitably because stock prices have cycled down after the rebound. However, the LEAPs calls will only be bought back if the prices starts cycling up. Riding on the rebound, Mar 870 & 860 calls were written on ER2(Russell 2000 Index) to generate additional income. All the ER2 calls & puts expired worthless as the index closed at 778 on Friday. For April's play, as a start, new April ER2 600 puts(non-directional strategy) were written. On the other hand, being bearish biased, N225 (Nikkei 225 Index) April 19000 Calls were written too.
Friday, March 16, 2007
March Trades Review
What a volatile month! For Mar's play, new covered calls positions on STLD & GG were placed. The options expired worthless & secondary calls will be written of course. As for the other positions such as Dell, NVDA, CSCO, INTC, their share prices are below their original purchase price & have fallen even lower after the Shanghai surprise. Their respective call options were bought back profitably when the market rebounded & new LEAPs call options written to generate additional income. As of Friday Mar 16, the LEAPs calls can be bought back profitably because stock prices have cycled down after the rebound. However, the LEAPs calls will only be bought back if the prices starts cycling up. Riding on the rebound, Mar 870 & 860 calls were written on ER2(Russell 2000 Index) to generate additional income. All the ER2 calls & puts expired worthless as the index closed at 778 on Friday. For April's play, as a start, new April ER2 600 puts(non-directional strategy) were written. On the other hand, being bearish biased, N225 (Nikkei 225 Index) April 19000 Calls were written too.
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