In the final 30 minutes of trading today, as the monthly option cycle was coming to its end, I made one last trade for the day.
I had already surprised myself by not paying attention to the strategy I was planning to execute this morning with Marathon Oil.
I further complicated matters by actually opening 2 new positions today, something I don’t do very often to end the week, unless one of those shares is going ex-dividend to start the coming week.
I also ate into my cash reserves.
Add to that the final trade.
Just a few hours ago I made a pretty good case for breaking one of my rules.
That rule was to treat individual lots of shares in a given stock as individual positions.
Doing that means selling calls on each position based upon its own strike price and profit goals.
I had my eyes on adding more shares of Marathon Oil today if it tested the $15.50 level.
With a $16.50 strike expiring this afternoon on shares that had a $15.60 break even, the idea was that if I did add more shares of Marathon Oil I would just combine the 2 lots, which happened to be of equal size and then look to sell $16 strikes on Monday. read more
Does anyone remember this song from Mary MacGregor?
It raised a few eyebrows when it came out almost 41 years ago.
Putting fantasies aside for a moment, I’m torn between two loves at the very same moment, sitting here wondering what comes next.
That wonderment isn’t unusual. There isn;yt a day, and I don’t think there hasn’t been a day that I can recall when that wonder wasn’t in abundance.
Now that rates have risen for the second time in 3 months and as it seems that there is some ambivalence about continuing that post-election rally, I’m torn between the financing goals that appeal to me the most. read more