Option to Profit

Week in Review


September 12 – 16, 2016

NEW POSITIONS/STO NEW STO ROLLOVERS CALLS ASSIGNED/PUTS EXPIRED CALLS EXPIRED/PUTS ASSIGNED CLOSED EX-DIVIDEND
0  /  1 0 1 3   /   0 2   /   0 0 6

 

Weekly Up to Date Performance

September 12 – 16, 2016

This was an interesting week and it gave a loud and clear message.

That message is that everyone still wants cheap money to stay cheap at least for another 3 months.

What the week had was lots of ups and downs as there is clearly a lot of unease out there.

I know that I feel that unease on my end of things.

There was one new position opened this week and it didn’t fare too well, as oil headed lower, but it still has been my go to posiotion for the year.

That position was down 1.0% for the week, while the adjusted and unadjusted S&P 500 were both 0.6% higher.

Existing positions also felt the decrease in energy and commodity prices and they were actually down 0.2% on the week.

With 3 newly closed positions for the week the 2016 closed positions are 0.9% lower, due to the liquidation of the MolyCorp position and would otherwise be 6.6% higher, well ahead of the S&P 500, but the rules in accounting have to be applied.

It was an interesting week and I’m usually not one to try and spin things, but I did end the week fairly pleased, even as existing positions were 0.2% lower.

That’s because the week had 5 ex-dividend positions and the opportunity to rollover the one new position opened on the week.

More importantly, there were 3 assignments and I was happy to add to the cash reserves in the week ahead of the FOMC meeting.

That made me so happy, I was even willing to overlook the 2 expired positions.

That’s also because I think both of those have good prospects for the sale of new call positions and I was glad not to have to pay to buy back the expiring positions.

With cash in hand for next week, I really don’t know if I want to spend any before Wednesday’s meeting.

The move could be explosive in either direction and I don’t think I want to take a chance on risking more money at a time when the FOMC has been sending so many mixed signals.

I would certainly take any opportunity to sell calls on uncovered positions before next Wednesday, but on not too keen on much else.

What I am keen on is getting over this ridiculousness and all of the ado about 0.25%

This week’s details may be seen in the Weekly Performance spreadsheet * or in the PDF file, as well as in the summary below

(Note: Duplicate mention of positions reflects different priced lots):



New Positions Opened:  MRO puts

Puts Closed in order to take profits:  none

Calls Rolled over, taking profits, into the next weekly cycle:   none

Calls Rolled over, taking profits, into extended weekly cycle:  none

Calls Rolled over, taking profits, into the monthly cycle: none

Calls Rolled Over, taking profits, into a future monthly cycle:  none

Calls Rolled Up, taking net profits into same cyclenone

New STO: none

Put contracts expired: none

Put contracts rolled over: MRO (9/30)

Long term call contracts sold:  none

Calls Assigned:  HPQ, IP, STX

Calls Expired:  DOW, GME

Puts Assigned:  none

Stock positions Closed to take profits:  none

Stock positions Closed to take losses: EMC

Calls Closed to Take P
rofits
: none

Ex-dividend Positions   HPQ (9/12 $0.12), M (9/13 $0.38), NEM (9/13 $0.025), BBBY (9/14 $0.125), JOY (9/15 $0.01)

Ex-dividend Positions Next Week:LVS (9/20 $0.72)

For the coming week the existing positions have lots that still require the sale of contracts:   AGQ, ANF, AZN, BBBY, BBY, CHK, CLF, COH, CSCO,  CY, DOW, FAST, FCX, GDX, GM, GPS, HAL, HFC, HPQ, INTC, IP, JCP, JOY, KMI, KSS, LVS, MCPIQ, MOS, NEM, RIG, WFM, WLTGQ, WY (See “Weekly Performance” spreadsheet or PDF file)



* If you don’t have a program to read or modify spreadsheets, you can download the OpenOffice Suite at no cost.