Option to Profit
Week in Review
July 4 – 8, 2016
|NEW POSITIONS/STO||NEW STO||ROLLOVERS||CALLS ASSIGNED/PUTS EXPIRED||CALLS EXPIRED/PUTS ASSIGNED||CLOSED||EX-DIVIDEND|
|1 / 1||0||1||0 / 0||0 / 0||0||1|
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.
(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 cycle: none
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.