November 2009 Options Expiration
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.