6 results for tag: call


Expiration Friday

We have a number of positions that need adjustment today. No Apple. We are out for now. WalMart - WMT continues to be sold heavily, but the chart tells a different story. Walmart is in a strong bull market so we let the chart, NOT the market, tell us what to do. Today we buy. (Subscribers get trade details as the orders are entered). We also need to roll our short puts that expire today. We are rolling the 84 puts, the 85 puts, and maybe the 86 puts. Both the 84 and 85 are close enough to the current price of $83.82 that we can roll for enough money to meet our criteria. The 86 strike - maybe not. We may let those shares be put to us and sell ...

Market Movement

We were in and out of Apple again. The portfolio has no position today, yearly profits in AAPL are now $12,594. We had sold some weekly 110 puts and yesterday we bought them for 5 cents each to close the position. Now, we wait for a day when Apple is down a few dollars. At that time. we will look for a high-probability strike and sell some puts. Until that happens, we stay out of this symbol. As a broker friend of mine once said "Patience produces profits". He was right, The WalMart position has taken a hit as WMT has moved lower over the past few days. Our charting system shows Walmart to be in a strong Bull market - so down days are welcome ...

Updating WalMart and Apple

After moving, I got busy and was not able to continue writing for DeepPocketOtions. That project is now under control and there are many trades to talk about since October. Starting with WalMart - our profit for the year was $1130 on October 3rd.  We continued to trade the options, moving in and out of various put, call and stock positions over the last two months. Our profit today stands at $2001 for the year, so it's earning about $350 a month now.  That's a respectable income created from simply selling a few put positions on days when WalMart happens to be down. The current position is short 1 weekly 84 put and short two 86 puts - all expiring ...

Finally able to write again….

It's hard to believe that my last post was 5 months ago, but it was! My wife and I were building a house and it became crunch time. If you've never built a custom home - there is only one way to do it. You just have to be there -- as much as possible. The house is done and we are living in it now. My new office is still a pile of boxes, but I have a temporary desk that is workable enough to get me back to work -- because in the world of options, there is always money to be made! Somehow, even though I wasn't able to write, I was able to make time for trading. My Apple options trades continued, and I'm now up about $10,000 on AAPL for the year and up ...

The WalMart Trade continues to cook…….

We opened the WalMart trade early this year. Details are provided in previous blog posts. Today, on April 2, 2014, this is the status: Our Delta on the position is right at zero, so very little market risk. As readers know, this is always a temporary situation, but it is what we strive to achieve. Our daily time decay, or Theta, is about $27. We are collecting about $27 a day on this trade. Our profit on WMT since we started this trade string is now -$290. We have lost a little money, but at the current rate of time decay, we should go profitable in about 10 days. Remember, when trading options, we are talking about calendar days, not just days ...

The WalMart Options trade continues….

Today, I sold 3 more Jan2 14 78 Puts. One at 39 cents, the second at 42 cents, and the third at 45 cents. The 7 contract position now has an average price of about 38 cents each. The contract is trading at 44 cents, for a 6 cent loss. If closed today, the entire position would lose $42. This is a small and manageable loss. The sales process, where I opened the position at 30 cents and continued to sell all the way to 45 cents today, works well as a risk management tool. When I originally started this trade, if I would have sold the same 7 contracts at 30 cents, I would be down $98. This position has two days left to expiration but WalMart is now ...