Option to Profit
Week in Review
December 5 – 9, 2016
| NEW POSITIONS/STO | NEW STO | ROLLOVERS | CALLS ASSIGNED/PUTS EXPIRED | CALLS EXPIRED/PUTS ASSIGNED | CLOSED | EX-DIVIDEND |
| 0 / 0 | 0 | 1 | 1 / 0 | 0 / 0 | 0 | 5 |
Weekly Up to Date Performance
December 5 – 9, 2016
New Record, new record and more new records.
How often can you say that?
That pretty much sums things up, as the S&P 500 was up 3.1%
This week had no new positions opened as I was happy just going along for the ride.
More importantly, while conserving cash from the previous week’s assignments, there was again opportunity to put some idle positions to work with the sale of calls on 3 uncovered positions.
Existing positions did well, but with Friday’s decline in commodity pricing, ended up not being able to keep up.
With one more closed positions this week we did break the 30 mark for the year. Still a paltry number as there are almost 1000 closed positions in the nearly 5 years of recommendations.
This was mostly a week to watch.
I don’t mind doing that and haven’t minded as long as that means things are moving higher.
Despite a bit of lagging this week as commodities saw declines on Friday, I was pretty happy.
That’s because there were 5 ex-dividend positions and I was able to keep alive that DOH trade, without losing the position to assignment.
What i didn’t do, and in hindsight should have, was to have recommended more of those DOH trades to subscribers.
Even though i do post them, I decided that it was just too much to have to juggle several of those at one time.
That would have been the case this week.
While I don’t mind the risk – reward imbalance, it’s definitely not for everyone.
Plus , it also requires being glued to the ticker, especially as trading nears the end of
tr
ading for the day.
That’s what happened with a short position I opened late this afternoon and I was prepared to make an offsetting trade heading into the closing bell.
The problem is that doesn’t leave much time for anyone else to follow that lead.
Oh well, it was still a good week and the rally continues.
Next week the FOMC reports and I think there’s even more to come, but I am happy to be squirreling away 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: 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: none
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: GME (11/29 $0.37), MOS (11/29 $0.275), ANF )11/30 $0.20), BAC (11/30 $0.075)
Ex-dividend Positions Next Week: HPQ (12/12 $0.13), M (12/13 $0.38), BBBY (12/14 $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.