Options Writing Trade Update - Apr 20

The ACH Apr 26 Call options got called out even though it corrected steeply (> 6%) on option expiry day last Friday as it stayed above $26. Thats the beauty of "at-the-money" call options. I am left with STLD & GG and get to write options again into May. In fact, it would be the 3rd cycle for GG. i.e I have written call options twice before & this would be the 3rd time against the same batch of stocks bought in Mar. As for May's options play, I wrote the May 18 Call for STLD @ 0.7 & the May 40 Call for GG @ 1.15. I also bought back some ACH stocks at an average of 26.2 & sold the May 26 Call option @ 1.2.
The fundamental picture is strong for equities and the news from the 1Q reporting season has been very supportive so far. I continue to maintain a cautiously positive outlook of the market in the short to medium term.

Current Trades:
STLD: Bought stock at $17.80, Sold the May 21 Call for $0.7
ACH: Bought stock at $26.2, Sold the May 21 Call for $1.2
GG: Bought stock at $38, Sold the May 21 40 Call for $1.15

Options Writing Trade Update - Apr 12

This week is options aspiration week. Alcoa kicks off the Q1 earnings reporting cycle on Monday followed by Intel on Tuesday and JP Morgan, Google and Bank America later in the week. This will set the tone for the following few weeks about the economy.
If there are no major earning disaster, I am hoping that the long stocks will all be in the money & the April Calls be called out & hence, leaving me with zero positions. This provides the perfect opportunity to lock in some gains and then take a renew look at where the market is going next before taking on anymore new positions. Moving forward in the next couple of weeks, any declines would be regarded as healthy corrections & will present good covered call opportunity as my current medium to long term view is still cautiously bullish.