Week in Review – November 7 – 11, 2016


Option to Profit

Week in Review

NOVEMBER 7 – 11, 2016

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Weekly Up to Date Performance

November 7 – 11, 2016

What a week.

It makes little sense to try and dissect out what happened this week, so I won’t even try.

The only thing I know is that the experts are more often wrong when it comes to that which can never be obey recognizable rules of order.

This week had no new positions opened, but I was happy just going along for the unexpected ride.

That ride took the S&P 500 3.8% higher on the week.

That ride also gave me the opportunity to sell calls on 4 uncovered lots and rollover the serial rollover position that has basically been the “go to” for 2016.

With an ex-dividend position on the week and those other income generating trades, I was pretty satisfied, but still have no clue what the rest of 2016 will bring.

For my part, I actually wouldn’t mind 2016 just continue, as is.

The only thing that i didn’t care for during the week was that existing positions couldn’t keep up with the market as they were weighed down by energy, although they still managed to gain 2.7% on the week.

There were, again, no new closed positions on the week and 2016 is looking like it will have fewer than 30 closed positions on the year.

There was so much going on this week and not too much of it lent itself to explanation.

The way the week ended, maybe with just a little whimper, has to make you wonder what the next week holds for us.

A week ago at this time we thought we knew what the coming week was going to hold, but that didn’t really work out.

The experts got everything wrong, including what the stock market would do in the event that they got the election prediction wrong.

After this week’ I and maybe a lot of Americans actually feel better about things, as there is still a cordial shift in power, after the most acrimonious of elections.

That has to count for something.

What we can also count on is that the rise in interest rates will make the FOMC’s decision moot in just a few weeks.

With no assignments this week and the decision to roll over the put position that could have expired, I don’t know where my mind will stand as we get ready to look at that record closing high on the DJIA.

I’d like to see energy do some catching up and I’d like to see interest rates take a little bit of a rest.

With this week’s earnings coming from retailers and their guidances, I think that we all know what to expect in a few weeks, so the question becomes whether we are ready to finally accept the inevitable.

I think that we are and I think that the economy will get a significant short term boost in the coming year as the party against big government goes on a big spending spree, with focus on infrastructure.

Ultimately, there will be a price to be paid, but not any time soon.

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


Put contracts expired: none

Put contracts rolled over: MRO 

Long term call contracts sold:  none

Calls Assigned:  none

< strong style="line-height: 20.0063037872314px;">Calls 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     IP (11/10 $0.46)

Ex-dividend Positions Next Week: MRO (11/14 $0.05)

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.