Option to Profit
Week in Review
September 12 – 16, 2016
|NEW POSITIONS/STO||NEW STO||ROLLOVERS||CALLS ASSIGNED/PUTS EXPIRED||CALLS EXPIRED/PUTS ASSIGNED||CLOSED||EX-DIVIDEND|
|0 / 1||0||1||3 / 0||2 / 0||0||6|
Weekly Up to Date Performance
September 12 – 16, 2016
This was an interesting week and it gave a loud and clear message.
That message is that everyone still wants cheap money to stay cheap at least for another 3 months.
What the week had was lots of ups and downs as there is clearly a lot of unease out there.
I know that I feel that unease on my end of things.
There was one new position opened this week and it didn’t fare too well, as oil headed lower, but it still has been my go to posiotion for the year.
That position was down 1.0% for the week, while the adjusted and unadjusted S&P 500 were both 0.6% higher.
Existing positions also felt the decrease in energy and commodity prices and they were actually down 0.2% on the week.
With 3 newly closed positions for the week the 2016 closed positions are 0.9% lower, due to the liquidation of the MolyCorp position and would otherwise be 6.6% higher, well ahead of the S&P 500, but the rules in accounting have to be applied.
It was an interesting week and I’m usually not one to try and spin things, but I did end the week fairly pleased, even as existing positions were 0.2% lower.
That’s because the week had 5 ex-dividend positions and the opportunity to rollover the one new position opened on the week.
More importantly, there were 3 assignments and I was happy to add to the cash reserves in the week ahead of the FOMC meeting.
That made me so happy, I was even willing to overlook the 2 expired positions.
That’s also because I think both of those have good prospects for the sale of new call positions and I was glad not to have to pay to buy back the expiring positions.
With cash in hand for next week, I really don’t know if I want to spend any before Wednesday’s meeting.
The move could be explosive in either direction and I don’t think I want to take a chance on risking more money at a time when the FOMC has been sending so many mixed signals.
I would certainly take any opportunity to sell calls on uncovered positions before next Wednesday, but on not too keen on much else.
What I am keen on is getting over this ridiculousness and all of the ado about 0.25%
(Note: Duplicate mention of positions reflects different priced lots):
New Positions Opened: MRO puts
Puts Closed in order to take profits: none
Calls Rolled over, taking profits, into the next weekly cycle: none
Calls Rolled over, taking profits, into extended weekly cycle: none
Calls Rolled over, taking profits, into the monthly cycle: none
Calls Rolled Over, taking profits, into a future monthly cycle: none
Calls Rolled Up, taking net profits into same cycle: none
New STO: none
Put contracts expired: none
Put contracts rolled over: MRO (9/30)
Long term call contracts sold: none
Calls Assigned: HPQ, IP, STX
Calls Expired: DOW, GME
Puts Assigned: none
Stock positions Closed to take profits: none
Stock positions Closed to take losses: EMC
Calls Closed to Take Profits: none
Ex-dividend Positions: HPQ (9/12 $0.12), M (9/13 $0.38), NEM (9/13 $0.025), BBBY (9/14 $0.125), JOY (9/15 $0.01)
Ex-dividend Positions Next Week:LVS (9/20 $0.72)
For the coming week the existing positions have lots that still require the sale of contracts: AGQ, ANF, AZN, BBBY, BBY, CHK, CLF, COH, CSCO, CY, DOW, FAST, FCX, GDX, GM, GPS, HAL, HFC, HPQ, INTC, IP, JCP, JOY, KMI, KSS, LVS, MCPIQ, MOS, NEM, RIG, WFM, WLTGQ, WY (See “Weekly Performance” spreadsheet or PDF file)
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