Author Archives: TheAcsMan

 

Option to Profit

Week in Review

 

June 20 – 24, 2016

 

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

 

Weekly Up to Date Performance

June 20 – 24, 2016

Last week it was hard to understand what had happened.

This week it was easy.

When it was all said and done today’s decline took 2016 negative for the year.

What may be sadder is that it only took a 3.6% loss to do that at this point in the year.

There was a new position opened this week and somehow it managed to stay above water. That position was 3.2% higher, finishing 4.8% higher than both the adjusted and unadjusted S&P 500. The basic index ended the week being 1.6% lower, as its good gain for the week was obliterated on Friday.

Existing positions were 0.7% higher than the S&P 500 for the week, however, that meant they still lost 0.9%.

With a single new assignment on the week closed positions in 2016 were 8.0% higher, while the comparable performance for the S&P 500 during the same holding periods has been 1.2% higher. That represents a completely ridiculous 593.8% difference in return on closed positions. That would be much more impressive if there were many more closed positions in 2016, but that just hasn’t been the case.

Even as existing positions lost 0.9% for the week, it wasn’t entirely terrible.

It certainly could have been much, much worse, especially as oil was hit so hard to end the week, as well.

Still, the single new position opened on the week fared well and there were a couple of ex-dividend positions, as well as an assignment.

It also helped to see one uncovered position get some cover, although another position did end up ex[piring.

This week just showed how terrible investors, pollsters and everyone else happens to be.

The confidence exhibited by investors heading into the “Brexit” vote has to be way up there with the biggest mis-reads in the world.

Amazingly markets were driven higher on Thursday ahead of the vote as if there was immunity to disappointment.

That was definitely not the case as everyone get it so terribly wrong.

Politicians, pollsters, bookies and investors.

We will start the week with what look to be lots of bargains.

I will start the week with a little more cash from an assignment, but with about 5 ex-dividend positions on the week I may not feel much uregency to add any new positions.

The manner in which financials were hit to end the week, however, makes them very tempting, but those temptations may abound in other sectors, as well.

Why Macy’s had to feel the blow from Brexit, I may not fully comprehend, but there may be good reason to look critically at lots of things.

For now, though, I’m just going to think about the weekend and how good it is to be in the United States of America, without too much thought of any important state deciding to secede.

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:  CY

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 cycle:  none

New STO: STX

Put contracts expired: none

Put contracts rolled over: none

Long term call contracts sold:  none

Calls Assigned:  MRO

Calls Expired:  HFC

Puts Assigned:  none

Stock positions Closed to take profits:  none

Stock positions Closed to take losses: none

Calls Closed to Take Profits: none

Ex-dividend Positions:    LVS (6/20 $0.72), JPY (6/20 $0.01)

Ex-dividend Positions Next Week: CY (6/28 $0.11), DOW (6/28 $0.46), EMC (6/29 $0.11), WFM (6/29 $0.14), GPS (7/1 $0.23)

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.