I rolled the GMXR November 15 puts forward to December and down to 12.50 strike. I wasn’t able to do this for a credit though. I’m fine with that as I didn’t want to take assignment at this point.
The 50-day SMA is still rising, but until Natural Gas can put in a bottom I don’t want to have any more exposure to this area.
GMXR Hourly
I closed out the CENX (Century Aluminum Co.) November 10 puts I was short. I was able to buy them back at break-even just over a month later. I have an order in to replace them with December 7.50 puts but it hasn’t filled as of this writing.
CENX is back below a declining 50-day SMA and I didn’t want to risk assignment at this point.
CENX Hourly
I took my own advice and bought to close the UYG November 6.00 covered calls I sold back on October 6th. This is a five week return of 2.85%.*
UYG jumped back above the rising 50-day SMA today. The next resistance in the $6.25-6.45 area. I will look to sell December 6 or 7 calls based on the price action this week.
UYG 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 bought back the covered calls I sold against my Diana Shipping Inc. position. My order filled about mid-morning and DSX continues on a tear into the bell – as do the other shippers (with the noted exception of TBSI). I was able to buy these calls back at break-even and since I got them at break-even I decided not to roll them forward and up to December 17.50 calls. Not yet anyway.
DSX and other shippers had positive earnings reports yesterday and today. China’s continued demand for raw materials has improved the Baltic Dry index as well.
I’m still short DSX December $12.50 puts I sold back on Oct 29th.
Looking at that hourly chart just makes me shake my head in disbelief. I can’t believe how quickly that snapped back. I need to be more aggressive and close out these short call positions once the premium is down to 25% of what I received when I opened it. I love to hold these into expiration when they are clearly going to expire OTM and get the full premium, but a profit is a profit and I need to take it when I have the opportunity.
DSX Hourly
DSX Daily
I sold to open some December 14 calls on my ENER position. ENER is stuck in a wedge between $10 and $14 and all the moving averages have pretty much flattened out. I’m still short the December 12 puts I sold a few weeks ago. There is a lot of supply in the $12 and $13.50 areas that it will need to overcome first. This trade converts it to a short strangle (covered).
ENER Hourly