Sell to open American Eagle Outfitters, Inc. (AEO) Jan 15 puts. Nice bounce off trendline support at $14.50 on higher volume. I’d prefer to have a little more cushion than the 15 strike but that was the only viable option at the current price.
AEO Hourly
AEO Daily
I wrote some RTI International Metals, Inc. (RTI) January 17.50 puts just before close.
RTI Hourly
RTI Daily
November 2009 Options Expiration summary.
I made a few trade adjustments earlier this month and rolled CENX and GMXR forward and down:
I also closed out of some short options positions early to lock in a profit and eliminate any risk of assignment.
DryShips, Inc. (DRYS) – The DRYS November 6.00 puts I wrote at the end of September expired OTM. This is a 7 week return of 7.38%. *
DRYS is forming a wedge on the hourly chart – like just about every other chart I’m seeing right now. I might take another opportunity to sell more puts this coming week. Probably the January 5 strike. I should probably write some covered calls on the small position I’m holding too. I was hoping for a breakout much like DSX but it hasn’t formulated yet.
DRYS Hourly
My current cash position is at about 60%.
* 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 sold to open DSX December $17.50 calls. I’m expecting some near-term weakness and consolidation. I will look to sell December or January 15 strike puts after a decent pullback – maybe in about a week.
DSX Hourly
Another day, another new low for UNG. This is why you need to pay attention to moving averages. It is very tempting to try to pick a bottom, but it will only cause you grief (and money).
UNG Hourly
I sold to open some CENX (Century Aluminum Co.) January $7.50 puts just before close today. CENX is back above the 50 day SMA and the moving averages on the weekly chart have lined up nicely as well.
I made an adjustment to CENX a few days ago in my taxable account to roll forward and down to December $7.50 puts. This new trade was in my IRA. I choose January because the premium was double December premium (albeit small).
I’m choosing to be more conservative and sell puts further OTM and farther out in expiration as the market seems to be grinding sideways in the near term.
CENX Hourly
CENX Weekly
I closed the UNG puts I wrote yesterday for a 2 cent loss. Too risky and taking up too much mental capital. There is no reason to be in that trade.
Weekly chart.
UNG Weekly
I closed the MMR November puts I wrote back in October. This is a 5 week return of 3.80%. *
MMR 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.
Sold to open UNG December 9 puts. Possible double-bottom at $9. Moving averages are still in bearish orientation.
UNG Hourly
I wrote some December 6 covered-calls on my UYG position about mid-morning. All the moving averages are flat and this stock is pretty much devoid of any recognizable trend at this point. I closed my November calls for a profit a few days ago and didn’t roll them to December at the time. The market is moving sideways so I need to focus on call writing whenever and wherever I can – for the short-term anyway.
