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Sunday, August 29, 2010
Thursday, June 24, 2010
Update Transaction - Multi-Fine Electronix (MFLX)
This position was rolled forward to August expiration. The new profit/loss info is below:
1/15/2010 -- Sold to Open 1 MFLX February $25 Put @ 1.2324
2/5/2010 -- Bought to Open 1 MFLX February $20 Put @ 0.4101
2/19/2010 -- Stock Bought Due To Option ITM @ $25.10
2/22/2010 -- Sold to Open 1 MFLX April $25 Call @ .2824
4/9/2010 -- Bought to Close 1 MFLX April $25 Call @ .2975
4/9/2010 -- Sold 100 MFLX @ 24.8295
4/9/2010 -- Sold to Open 1 MFLX May $25 Put @ 1.4399
5/7/2010 -- Bought to Close 1 MFLX May $25 Put @ 0.89
5/7/2010 -- Sold to Open 1 MFLX June $25 Put @ 1.37
5/25/2010 -- Bought to Close 1 MFLX June $25 Put @ 2.02
5/25/2010 -- Sold to Open 1 MFLX July $25 Put @ 2.55
6/24/2010 -- Bought to Close 1 MFLX July $25 Put @ 0.72
6/24/2010 -- Sold to Open 1 MFLX August $25 Put @ 1.60
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $23.77
Current Cost Average: $21.13
Commissions (Included In Cost): $39
Potential Annualized Gain If Called At Expiration (8/20/2010): 27.36%
1/15/2010 -- Sold to Open 1 MFLX February $25 Put @ 1.2324
2/5/2010 -- Bought to Open 1 MFLX February $20 Put @ 0.4101
2/19/2010 -- Stock Bought Due To Option ITM @ $25.10
2/22/2010 -- Sold to Open 1 MFLX April $25 Call @ .2824
4/9/2010 -- Bought to Close 1 MFLX April $25 Call @ .2975
4/9/2010 -- Sold 100 MFLX @ 24.8295
4/9/2010 -- Sold to Open 1 MFLX May $25 Put @ 1.4399
5/7/2010 -- Bought to Close 1 MFLX May $25 Put @ 0.89
5/7/2010 -- Sold to Open 1 MFLX June $25 Put @ 1.37
5/25/2010 -- Bought to Close 1 MFLX June $25 Put @ 2.02
5/25/2010 -- Sold to Open 1 MFLX July $25 Put @ 2.55
6/24/2010 -- Bought to Close 1 MFLX July $25 Put @ 0.72
6/24/2010 -- Sold to Open 1 MFLX August $25 Put @ 1.60
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $23.77
Current Cost Average: $21.13
Commissions (Included In Cost): $39
Potential Annualized Gain If Called At Expiration (8/20/2010): 27.36%
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Update Transaction
Current Holdings
The current holdings of the CCIP as of June 23, 2010 are:
MEMC Electronic Materials - 100 Shares ($12 July CC)
Verizon - 100 Shares & 1 CSP ($32 July CSP, 100 Shares Uncovered)
Marathon Oil (MRO) - 1 $32 August CSP
Discover Financial (DFS) - 100 Shares ($15 July CC)
Multi-Fineline Electronics (MFLX) - 1 $25 July CSP
Sociedad Quimica y Minera (SQM) - 1 $35 August CSP
Linear Technology (LLTC) - 100 Shares ($27 July CC)
Neutral Tandem (TNDM) - 100 Shares ($15 Aug CC)
Abbott Labs (ABT) - 1 $52.50 August CSP
Texas Instruments (TXN) - 1 $23 July CSP
Life Partners Holdings (LPHI) - 1 $17.50 Aug CSP
JC Penneys (JCP) - 1 $23 July CSP
Nucor (NUE) - 100 Shares ($40 July CC)
McGraw-Hill (MHP) - 1 $27.50 Aug CSP
Suncor (SU) - 1 $28 July CSP
A123 Systems (AONE) - 100 Shares ($9 July CC)
MEMC Electronic Materials - 100 Shares ($12 July CC)
Verizon - 100 Shares & 1 CSP ($32 July CSP, 100 Shares Uncovered)
Marathon Oil (MRO) - 1 $32 August CSP
Discover Financial (DFS) - 100 Shares ($15 July CC)
Multi-Fineline Electronics (MFLX) - 1 $25 July CSP
Sociedad Quimica y Minera (SQM) - 1 $35 August CSP
Linear Technology (LLTC) - 100 Shares ($27 July CC)
Neutral Tandem (TNDM) - 100 Shares ($15 Aug CC)
Abbott Labs (ABT) - 1 $52.50 August CSP
Texas Instruments (TXN) - 1 $23 July CSP
Life Partners Holdings (LPHI) - 1 $17.50 Aug CSP
JC Penneys (JCP) - 1 $23 July CSP
Nucor (NUE) - 100 Shares ($40 July CC)
McGraw-Hill (MHP) - 1 $27.50 Aug CSP
Suncor (SU) - 1 $28 July CSP
A123 Systems (AONE) - 100 Shares ($9 July CC)
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Blog Admin
Posting to Resume
After an extended hiatus, posts will resume in the month of July. I will begin with a recap of how the portfolio has fared over the last few months.
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Blog Admin
Saturday, January 2, 2010
Blog Moving to coveredcallsinvesting.blogspot.com
The blog has been officially moved to coveredcallsinvesting.blogspot.com. I will no longer be making updates to this blog.
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Blog Admin
Tuesday, December 8, 2009
Blog Moving
For all those who have been wondering why there has not been a post in quite a while, it is because I will be moving my blog to a different web address within the next few weeks. As a result I have been busily working on that site, and not posting to this one. I plan to list the new address shortly once I have moved all the posts over.
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Blog Admin
Sunday, November 22, 2009
November Expiration Day
The Covered Calls Investor Portfolio contained a total of 7 positions with November 2009 expirations, and 10 positions either with a Non-November expiration or no current covered call. The 7 positions with November expiration had the following results:
- 3 positions (MHP, TZA, OCR) closed in-the-money. The calls were exercised and the stock was sold. OCR was established this month, and TZA and MHP was a holdover from the last few expirations. The annualized gain/loss results (after commissions) were:
McGraw-Hill (MHP) => 29.42% (Held Since 8/21/2009)
Direxion 3x Small Cap Bear => 18.7% (Held Since 9/14/2009)
Omnicare (OCR) => 36.51% (Held Since 9/29/2009)
- 4 positions in the portfolio (UNG, AMAT, FLR, JACK) ended out-of-the-money. As is the norm with UNG, it yet again ended OTM.
United States Natural Gas (UNG) - $9.01
100 Shares with Current Cost Basis of $11.185
I will continue to sell calls against all of my positions in UNG, while I wait for the price of natural gas to rebound. I do realize that this will take quite a while, but I consider this position to be a longer-term covered call position.
Applied Materials (AMAT) - $12.28
100 Shares with Current Cost Basis of $12.57
This position is one which I plan to hold for quite a well as well. The stock was pushed down as part of the sector downgrade which the semiconductor sector received this week. I believe the stock is still a good holding on a fundamental basis as it recently crushed earnings. I will continue to hold the position and sell a new call.
Fluor (FLR) - $44.32
100 Shares with Current Cost Basis of $45.37
After reporting lackluster earnings, FLR dropped from about $48 to under $45. Unfortunately, with the market declining in recent days, FLR has not been able to regain any of its lossed, even though it has been bordering on oversold territory for a few days. I will continue to hold the position and sell a new call.
Jack In The Box (JACK) - $18.55
100 Shares with Current Cost Basis of $19.10
Similar to Fluor, Jack In The Box recently reported earnings, and was obliterated from above $20 to down to $18 due to a dissapointing outlook, even though current quarter earnings beat estimates. I believe the company is still in the midst of moving from a non-franchise to franchise model, and thus will continue to be a turnaround play in the CCIP. I will be selling a new call on the position.
The positions in the portfolio which did not have October expirations include:
United States Natural Gas (UNG)(300 Shares) - December $9 Covered Call, January $13 Covered Call, 1 position uncovered
Intrepid Potash (IPI)(100 Shares) - December $27 Covered Call
MEMC Electronics (WFR) (100 Shares) - Uncovered
Intel (INTC) (100 Shares) - December $19 Covered Call
Applied Materials - 1 December $13 CSP
Gamestop (GME) (100 Shares) - December $24 Covered Call
Verizon (VZ) (100 Shares) - April $31 Covered Call
New York Community Bancorp (NYB) (100 Shares) - April $12 Covered Call
- 3 positions (MHP, TZA, OCR) closed in-the-money. The calls were exercised and the stock was sold. OCR was established this month, and TZA and MHP was a holdover from the last few expirations. The annualized gain/loss results (after commissions) were:
McGraw-Hill (MHP) => 29.42% (Held Since 8/21/2009)
Direxion 3x Small Cap Bear => 18.7% (Held Since 9/14/2009)
Omnicare (OCR) => 36.51% (Held Since 9/29/2009)
- 4 positions in the portfolio (UNG, AMAT, FLR, JACK) ended out-of-the-money. As is the norm with UNG, it yet again ended OTM.
United States Natural Gas (UNG) - $9.01
100 Shares with Current Cost Basis of $11.185
I will continue to sell calls against all of my positions in UNG, while I wait for the price of natural gas to rebound. I do realize that this will take quite a while, but I consider this position to be a longer-term covered call position.
Applied Materials (AMAT) - $12.28
100 Shares with Current Cost Basis of $12.57
This position is one which I plan to hold for quite a well as well. The stock was pushed down as part of the sector downgrade which the semiconductor sector received this week. I believe the stock is still a good holding on a fundamental basis as it recently crushed earnings. I will continue to hold the position and sell a new call.
Fluor (FLR) - $44.32
100 Shares with Current Cost Basis of $45.37
After reporting lackluster earnings, FLR dropped from about $48 to under $45. Unfortunately, with the market declining in recent days, FLR has not been able to regain any of its lossed, even though it has been bordering on oversold territory for a few days. I will continue to hold the position and sell a new call.
Jack In The Box (JACK) - $18.55
100 Shares with Current Cost Basis of $19.10
Similar to Fluor, Jack In The Box recently reported earnings, and was obliterated from above $20 to down to $18 due to a dissapointing outlook, even though current quarter earnings beat estimates. I believe the company is still in the midst of moving from a non-franchise to franchise model, and thus will continue to be a turnaround play in the CCIP. I will be selling a new call on the position.
The positions in the portfolio which did not have October expirations include:
United States Natural Gas (UNG)(300 Shares) - December $9 Covered Call, January $13 Covered Call, 1 position uncovered
Intrepid Potash (IPI)(100 Shares) - December $27 Covered Call
MEMC Electronics (WFR) (100 Shares) - Uncovered
Intel (INTC) (100 Shares) - December $19 Covered Call
Applied Materials - 1 December $13 CSP
Gamestop (GME) (100 Shares) - December $24 Covered Call
Verizon (VZ) (100 Shares) - April $31 Covered Call
New York Community Bancorp (NYB) (100 Shares) - April $12 Covered Call
Labels:
Expiration Day
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