Week In Review – July 4 – 8, 2016


Option to Profit

Week in Review


July 4 – 8, 2016


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Weekly Up to Date Performance

July 4 – 8, 2016

Well, this was another in a series of interesting weeks.

Once again, just when it looked like….

….It turned out not to be that at all.

In fact, it turned out to be another really good week on top of the previous week that was the best week in 2 years, even with Monday’s big decline.

When it was all said and done the week ended within easy striking distance of an all time high.

There was only one position opened this week and it was a familiar one.

That position ended the week 3.9% higher and was 2.6% higher than both the adjusted and unadjusted S&P 500.

The S&P 500, itself, rose an impressive 1.3%

With no new assignments on the week closed positions in 2016 remained 6.8% higher, while the comparable performance for the S&P 500 d
ing the same holding periods has been 1.6% higher. That represents a 337.7% 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, although the pace has been slowly increasing

This was another good week.

It’s always nice to see asset values rise, but I still prefer to have some activity accompany the gains.

This week had only 1 new position opened and only a single rollover.

On top of that, there was only a single ex-dividend position, so there wasn’t too much income generation for the week.

Hopefully, some of that can change next week, as the July 2016 option cycle comes to an end and there are a handful of expiring positions.

While there are no ex-dividend positions next week, I do have some cash to spend and maybe some potential for rollovers, as well.

So, as we approach resistance, I’m wary, but still looking forward to the coming week.

Today’s Employment Situation Report was a big surprise, but this time it was a good surprise.

Compared to the horrific number in May, maybe it would be time to stop focusing on a single month’s report, but that’s never going to happen and who knows what next month may bring?

What today’s number could bring is an FOMC one step closer to be willing to pull the trigger and finally commit to raising interest rates.

The market seemed to like that idea today and may trade higher into the FOMC meeting even as those resistance levels loom overhead.

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:  MRO

Puts Closed in order to take profits:  none

Calls Rolled over, taking profits, into the next weekly cycle:   MRO

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 cyclenone

New STO: none

Put contracts expired: none

Put contracts rolled over: none

Long term call contracts sold:  none

Calls Assigned:  MRO

Calls Expired:  HFC

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   CSCO (7/5 $0.26)

Ex-dividend Positions Next Week: none

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.