I sold some Diana Shipping Inc. (DSX) December 12.50 puts earlier today. I’m still short the November covered calls I put on back on the 20th and I don’t intend on closing those out just yet. I don’t mind picking up some more DSX at $12.50.
DSX is right at the 50-day SMA which has flattened out. DSX might be making a higher-low on the hourly chart and the $12.50-$13 area has multiple areas of support.
DSX Hourly
I sold to open some ENER (Energy Conversion Devices, Inc.) December 12.00 puts right before close. ENER is back above the 50 day SMA on higher volume. There is a lot of supply above $13 but seeing the higher volume does help confirm this recent move higher. I didn’t notice any fundamental news that caused the rally today and I don’t really care because price is the only thing that pays. I’m also long ENER in my taxable and IRA accounts.
ENER Hourly
I sold to open some November 15.00 calls on my DSX position (Diana Shipping Inc). DSX has been range-bound between $12 and $15 for the last few months. The October calls I sold expired OTM and I’m hoping to do it again in November. Selling the November calls gives me some room to roll them up and forward into December if necessary.
DSX Hourly
I bought some Western Refining Inc. (WNR) Jan 2011 LEAPS before close. I’m planning to do a covered-call with LEAPS strategy on this one. I felt there just wasn’t a good way to sell puts based on the current strike prices and premiums.
WNR has a flat/rising 50 day SMA and higher volume on recent rallies.
WNR Hourly
I had the following options expire in October 2009.
AMB Property Corp. (AMB) – I sold to open AMB October 20.00 puts back on September 8th that expired OTM. This is a five week return of 4.21%.*
AMB Hourly
CardioNet, Inc. (BEAT) – I sold to open BEAT Oct 7.50 calls on September 21st. This is a 4 week return of 5.23%.* I also bought some BEAT 7.50 calls on October 6th. BEAT is still range-bound between $6 and $8.
BEAT Hourly
Diana Shipping Inc. (DSX) – I sold to open DSX October 15.00 calls back on September 16th that expired OTM. This is a 5 week return of 3.28%.* I might turn around and sell some November 15 calls right away.
DSX Hourly
Energy Conversion Devices, Inc. (ENER) I sold to open ENER October 13 puts in my taxable account on September 17th. I was put these shares at $13. When I opened this trade ENER had a flat 50 day SMA but it has since started declining. I’m leaning towards selling some November 13 calls on any further signs of weakness. ENER does have some nice volume on these recent rallies as seen on the hourly chart.
I also had some ENER October 14.00 calls expiring OTM in my IRA. I sold these back on September 21st and they expired OTM for a 4 week return of 3.90%.* This brings my cost basis down to $12.48.
ENER Hourly
United States Natural Gas (UNG) – I sold to open UNG October 12.00 calls back on September 18th and again on the 24th. These calls expired OTM for a 4 week net return of 4.12%.*
UNG Hourly
* The return is calculated using the premium I received from the sale of the options (less commissions) and the capital required to pay for their possible assignment.
I rolled the WFR (MEMC Electronic Materials Inc.) puts I sold back in September for a credit. I rolled them down to a 17 strike and out to November expiration. The DOW might have hit 10k today, but I’m still leery of that declining 50 day SMA on the WFR hourly chart.
WFR Hourly
I sold to open GMXR (GMX Resources Inc.) November 15.00 puts. A breakout from a flag pattern on higher volume this morning prompted the trade. The 15 strike gives me a little cushion and the premium I received will give me a great yield if this expires OTM.
GMX Resources is an independent oil and natural gas exploration and production company. This provides me an additional angle to invest in natural gas other than just UNG.
GMXR Hourly
I sold to open MMR (McMoRan Exploration Co) November 7.50 puts. Price moved back above the 50 day SMA yesterday on higher volume. Lots of support in the $7.40 area on the daily chart too.
I actually had an order in yesterday after the breakout but it didn’t get filled. I tried again today on a low-volume pullback and caught a bid.
MMR Hourly
I sold to open CENX (Century Aluminum Co.) November 10 puts. Price jumped back above the 50 day SMA on high volume today due to a better-than-expected profit report from Alcoa. The hourly and daily charts show support around the $8.50 area with plenty of room for upside.
CENX Hourly
I sold some November 6 calls on my UYG position. This has been range-bound for a few weeks now and I decided to try and grab some premium from that time decay. I don’t really mind letting this get called away at $6 but I will still be watching it closely in case an adjustment is necessary.
UYG Hourly
