Week in Review – June 6 – 10, 2016


Option to Profit

Week in Review


June 6 – 10, 2016


0  /  0 0 1 0   /   0 0   /   0 0 5


Weekly Up to Date Performance

June 6 – 10, 2016

Well, that was a bad end to a week that started out so promisingly for no real reason at all.

After last  Friday’s Employment Situation Report and this past Monday’s comments from Janet Yellen, the market had no reason to think anything at all.

What we were left with this week was just more uncertainty about what comes next.

Anyway, this was another week that I was also too unsure about much of anything and once again made no new opening position trades.

This was also another week of market mediocrity, although the numbers were looking pretty good heading into the closing session for the week.

The S&P 500 ended the week finishing 0.1% lower on both an unadjusted and adjusted basis. That’s after having finished last week unchanged.

But still, just as in the previous week, there was a little good news as there was one rollover, although there were no assignments.

There were also 5 ex-dividend positions to make things a little bit easier to take.

The good news ended there, as opposed to last week when existing positions ended the week 1.8% higher than the S&P 500, this week they trailed by 0.2%

With no new assignments on the week closed positions in 2016 were 8.3% higher, while the comparable performance for the S&P 500 during the same holding periods has been 1.7% higher. That represents a 383.6% difference in return on closed positions. That would be much more impressive if there were many more closed positions in 2016, but that just hasn’t been the case.

Maybe next week as the June 2016 option cycle comes to its end.

The market ended up the week poorly as most focus will be on the FOMC next week.

The market deteriorated after it likely realized that whatever was interpreted as being good news from Janet Yellen, wasn’t really any news at all.

Fortunately, there were plenty of ex-dividend positions this week, just as in the previous week and a handful more next week.

With no one expecting any action from the FOMC there may still be reason for some large movements.

That may all depend on the wording of their statement when it is released on Wednesday afternoon.

I do have some money to spend, but once again, I’m not too anxious to do so.

With a few positions set to expire and a couple of ex-dividend positions, there may be enough to keep me happy, but I would still like to see some reason to spend some of the money sitting in the cash pile, as small as it is.

Once we get past the FOMC Statement release and now that earnings are essentially done, we may get back to oil ruling the markets, just as they did to end this week.

It has been a couple of weeks since oil took center stage, but there may not be too much competition for it doing so after Wednesday’s announcement.


This week’s details may be seen in the Weekly Performance spreadsheet * or in the PDF file, as well as in the summary below

(Note: Duplicate mention of positions reflects different priced lots):

New Positions Opened:  none

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:  HFC (6/24)

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 cyclenone

New STO: none

Put contracts expired: none

Put contracts rolled over: none

Long term call contracts sold:  none

Calls Assigned:  none

lls Expired
:  none

Puts Assigned:  none

Stock positions Closed to take profits:  none

Stock positions Closed to take losses: none

Calls Closed to Take Profits: none

Ex-dividend Positions  BBY (6/10 $0.28), ,KSS (6/6 $0.50), NEM (6/7 $0.025), GM (6/8 $0.38), WY (6/8 $0.31)

Ex-dividend Positions Next Week:  HPQ (6/6 $0.12), BBBY (6/15 $0.125)

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)

* If you don’t have a program to read or modify spreadsheets, you can download the OpenOffice Suite at no cost.