Week In Review – August 15 – 19, 2016


Option to Profit

Week in Review


August 15 – 19, 2016


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Weekly Up to Date Performance

August 15 – 19, 2016

This was yet another in a series of flat weeks, but it was another in which my complaints may fall on deaf ears.

This was another week of no new purchases and so again there wasn’t too much to think or talk about.

The S&P 500 was down 0.3% for the week and other than a little bit of action following the release of FOMC minutes, there was nothing of any interest for the rest of the week.

Still it was a good week.

There were 2 ex-dividend positions and the expiration of those puts that had been serially rolled over, after having gone out on a little bit of a limb by having rolled them over the previous week even though they were going to expire..

On top of that, even as the market was flat, existing positions again beat the S&P 500, this time by an additional 0.4%. even though that meant that the only finished 0.1% higher for the week.

With the expiration of those puts that added one additional position to the paltry list of closed lots for 2016. Those positions closed in 2016 are still 6.8% higher, while the comparable performance for the S&P 500 during the same holding periods has been 1.8% higher. That represents a 279% difference in return on closed positions. Once again,  I’d be much more impressed if there were far more of those closed positions to point toward. With such few closed positions for the year, the differential could just as easily have been in the other direction and of a similar magnitude, yet also signifying little.

With this week’s small advance. it does at least add to the nice performance thus far in 2016.

That’s better than the alternative, although this past week wasn’t one for generating very much in the way of income.

It wasn’t really a week for generating much of anything, including anything of interest.

While there may be some more signs that the FOMC is going to be able to find reason to increase interest rates, no one is really getting excited or getting frightened

For the most part earnings season is now over and for the most part is was fairly disappointing.

What may have been most disappointing is that no one seemed to offer anything positive for the rest of 2016.

On the one hand that could set us up for some positive surprises three months from now, but for now it didn’t really offer any kind of catalyst to move higher.

Still, we’re just a hair from those all time closing highs, so something must be going right.

With the expiration of those puts I do have some additional cash that I wouldn’t mind putting to use, although it’s not likely to get any easier next week, just as the past couple of weeks have been difficult to really identify anything with a reward worth the risk.

With no ex-dividend positions next week and the likelihood of the assignment of a short call position, it would be really nice to find something to invest in, but that likely share assignment makes me think that together with the expiration of puts this week, it might e a good time to collect some cash.

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:  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: MRO

Put contracts rolled over: none

Long term call contracts sold:  none

Calls Assigned:  none

Calls Expired:  FAST

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   MRO (8/15 $0.05), HFC (8/19 $0.33)

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.