On 2/4 I rolled SLW Feb 15 puts to March 12.50 for roughly the cost of commissions. I was hitting my pain threshold that day and this was my trade furthest in the money – at the time. Alas, looking at this chart now I might have been OK holding through expiration.
SLW-Daily
On 2/5 I rolled FEED Feb 5 puts to March 5 puts for a credit. The problem selling puts on these 5 dollar stocks is the lack of strike prices. I’m just moving these out further to capture some more time premium.
FEED-Daily
I’ve rolled about a third of my February inventory to March now. I rolled IAG and HEAT for a loss and in hindsight I wish I would have gone further out in expiration to get more premium. Whenever I make an adjustment I need to try to roll these for a credit or breakeven at a minimum.
If we get some support next week I should still have an OK month as far as put selling and covered calls are concerned.
I’m pulling these charts from Finviz because I’m writing this on my netbook. I hope they turn out OK.
Sell to open MRVL March 17 puts before the close today. This is a small position in my IRA and gives me some exposure to semiconductors.
Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The Company develops complex system-on-a-chip (SoC) devices using its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing and embedded ARM-based microprocessor integrated circuits. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), handheld cellular, Ethernet-based wireless networking, personal area networking, Ethernet-based personal computer (PC) connectivity, control plane communications controllers, video-image processing and power management solutions. Its products serve diverse applications used in carrier, metropolitan, enterprise and PC-client data communications and storage systems. In addition, the Company serves the consumer electronics market for the convergence of voice, video and data applications.
MRVL-Daily
Sell to open Ultra Financials ProShares (UYG) March 6.00 covered calls. All the moving averages have flattened out on UYG so I’m writing some calls to capture some time decay. UYG is below the 50 and 100 day MA as well. I might consider converting this to a short strangle by selling some March 5 puts. I’ll see what tomorrow brings. UYG/XLF didn’t seem to drawn down nearly as much as the other indexes last week.
UYG Daily
What a week. It always comes down so much faster than it goes up. You have to be willing to accept these draw-downs and be prepared to make trade adjustments as the markets warrant.
I made two adjustments this week to re-balance my inventory and avoid too many assignments. I like to spread these adjustments out over time in case the market can find support. I only want to make the adjustment if it is absolutely necessary.
On 1/27 I rolled the IAMGOLD Corp. (IAG) puts I wrote forward and down to March 12.50. I decided to take a loss on this as it was breaking down so quickly and the next support was in the 12.50-13.00 area which will also be the 200-day MA.
IAG-Daily
On 1/29 I rolled the SmartHeat (HEAT) puts forward to March and down to the 10 strike. I took a small loss on the HEAT adjustment. There is trendline support near 10.80.
HEAT-Daily
Sell to open Tenneco Inc. (TEN) February 17.50 puts.
TEN-Daily
Sell to open CRZO March 22.50 puts. Support at confluence of rising 50 and 100 day SMA.
Carrizo Oil & Gas, Inc. (Carrizo) is an independent energy company engaged in the exploration, development, and production of natural gas and oil. The Company’s operations are principally focused in producing natural gas plays known as shale plays or resource plays.
CRZO Daily
Sell to open GIL March 20 puts. Support at rising 50 SMA. I sold the 20 strike which should coincide with the 100 day SMA. Earnings on Feb 11th.
Gildan’s principal business activity is the manufacture and sale of active wear, socks and underwear. I also have Finish Line (FINL) on my watch-list with a similar chart – also a sportswear company.
GIL Daily
Sell to open MAC March 30 puts. I made this trade yesterday and I am just getting around to post it. I had several REITs in my watchlist and this had the best setup. I went with March expiration as most of my February inventory is filled.
The Macerich Company is involved in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. During the year ended December 31, 2008, the Operating Partnership owned or had an ownership interest in 72 regional shopping centers and 20 community shopping centers aggregating approximately 76 million square feet of gross leasable area.
MAC Daily
Sell to open February 5 puts. Rising 50 and 100 day SMA. Some resistance at 5.70.
AgFeed Industries, Inc. is engaged in the research and development, manufacture, marketing, distribution and sale of pre-mix fodder blended feed and feed additives primarily for use in China’s domestic pork husbandry market. AgFeed operates through wholly owned subsidiaries, Nanchang Best Shanghai Best, Guangxi Huijie, Shandong Feed and HopeJia. On June 24, 2008, the Company acquired premix feed company. On January 3, 2008, the Company acquired a 70% interest each in Wannian Xiandai Animal Husbandry Limited Liability Co. (Wannian), and Jiangxi Huyun Livestock Co., Ltd. On January 4, 2008, AgFeed acquired a 60% interest in Ganzhou Green Animal Husbandry Develop. Co., Ltd. On January 7, 2008, it acquired Gang Feng Animal Husbandry Co., Ltd. On January 9, 2008, the Company acquired a 55% interest in Yichun Tianpeng Domestic Livestock Farm, Ltd. (Yichun).
I made this trade last Friday and I’m just getting around to posting it. The chart is from Friday as well.
FEED Daily
Sell to open EK Feb 4 puts. I’ve had EK on my watchlist for about a week now. A big move today got EK back above the 50 and 100 day MA which are both rising.
Kodak had some promising new products at CES this year. In addition, there was a lot of volume with the Feb 5 calls. Earnings on Jan 28th.
EK Hourly
