2 results for month: 07/2015


BA, WMT, AAPL – Earnings and other stuff

A month ago, on June 23, we began a new position in Boeing (BA). Over the last month we have placed 87 orders and had 35 fills in BA. The trades have been a combination of naked puts, rolls, calls and stock. We are now up $6300 for the year, so our efforts have made us about $1000 in the last month. BA reports earnings on August 8, so volatility is rising fast now and forcing option prices up. Partly because of this our daily decay is now up to $265. We are long 400 shares, short 5 puts at 4 different strikes, and also short some ITM calls. Taking advantage of today's drop, we sold a couple of new puts to bring our number of potential long shares (if ...

Big Fat Greek Opportunities

The Greek's have voted "No". They also have No money and No power and No way do they tell the EU what to do. It's a desperate last-ditch tactic by Greek politicians who must find a way to gain some control over what the other Europeans will eventually force them to do. Will it succeed and get them better terms? We have no way to predict that. Ignore every prediction that you hear, and soldier on. Our goal is to work every day to increase income while reducing risk. As option sellers, we make MORE money when volatility rises, but there are some short term effects that must be addressed. The bulk of our portfolio is options that we have sold, so ...