STLD covered call positions got called out this month. In fact, this is the 2nd month where calls were written to yield an overall 10.8% profit for 60 days play. No complains here. INTC share prices are now above their purchased price which is well just great. CSCO, DELL, NVDA & GG are still below their purchased price but are climbing back up in tandem with the overall market sentiment. In any case, secondary calls were written & income generation continues. The rule remains....no stocks will be sold for a loss. These stocks are viewed as assets which allow income to be generated. The April N225 19000 calls options expired worthless as the Nikkei 225 index was no where near 19000 on expiration day(2nd Friday of the month). Same goes for the April ER2 600 Puts which expired worthless as the Russell 2000 index closed at 828 on expiration day(3rd Friday of the month). New ACH covered calls positions were opened in April given the strong outlook for the Aluminium industry & the China story. May 19000 N225 Calls & May ER2 660 Puts were written to maintain the income target for May. Looking to perhaps open new HRB covered call positions & more ACH positions for May's play. And while at it, might as well throw in a few ER2 calls for some out of pocket expenses or "coffee money". Overall another great month in April.
