Well Puts

I had the following options expire in December.

Century Aluminum Co. (CENX). The December 7.5 puts I wrote back on November 12th expired OTM for a 5 week return of 2.67%. * I’m also short the Jan 7.50 puts. CENX exploded back on December 10th and I’m glad I could participate in part of that move. If we get some consolidation or a pullback in the next couple weeks I may look to sell the Feb 12.50 or 10 puts.

CENX Hourly

Diana Shipping Inc. (DSX) – I had both the December 12.50 puts and December 17.50 calls expiring OTM. I wrote the puts back on October 29th for a 7 week return of 4.74%. * I wrote the calls on November 19th for a 4 week return of 3.10%. * This knocks my cost-basis down to $11.09. I’m currently short the January 15 puts.

DSX Hourly

Energy Conversion Devices, Inc. (ENER) – I wrote December 14 calls back on November 6th. This is a 6 week return of 2.45%. * ENER is showing some signs of improvement. I’m short the January 11 puts.

ENER Hourly

Ultra Financials ProShares (UYG) - The December 6 calls I wrote back on November 13th expired OTM for a 6 week return of 3.49%. *

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.