I don’t know what it is about 2017, but whatever it is, I want to be dealt in on it.
While a 1.3% increase YTD on the S&P 500 isn’t necessarily the kind of thing that legends are built upon, it’s far, far better than the first 10 days in 2016.
I don’t like to project very much, especially if that means counting and spending money that you don’t really have, but 2016 ended being up such a nice year when compared to the already good S&P p500 performance, that I am beginning to salivate about the prospects for 2017.
That’s probably not a really good idea.
What I especially like is that I’ve had a trade in each of the 6 trading days to date.
That’s a pattern that I would really love to continue.
Today’s early rollover of the Cliffs Natural Resources puts in the face of commodity strength is something that I hope to be doing a lot of, much as was the case with Marathon Oil in the latter half of 2016.
In fact, with today’s weakness in oil, there may be an upcoming opportunity with Marathon Oil in the cards, too.
My only disappointment today was that I was unexpectedly distracted on many occasions and had an absolutely terrible internet connection all day.
I tried hard wiring, wireless and hot spot connections and just couldn’t get a very reliable price stream today and had difficulty uploading, as well.
Part of the disappointment is that I wanted to rollover the Whole Foods shares purchased yesterday and ex-dividend tomorrow.
Shares ended up closing at $30.73.
With a $0.14 dividend, there’s a chance that the shares won’t be assigned at the $30.50 strike, but only because there are still 3 days on the contract. That time value may be enough to make it more profitable for someone long the calls to think that there is still some chance to make some money on their position, rather than having to lay out cash to exercise and incur transaction costs and risks along the way, just to capture a relatively small dividend.
I, on the other hand, wouldn’t mind that small dividend, because they do add up.
Sometimes, it’s the small cards that bring you to victory
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