Closed out some very profitable trades (see below). Still bullish, but only in the short term. The Dow should hold 10,000, which means selling covered calls is the right move.
SOLD June 55 calls for $1.90.
Also:
Bought 2000 shares of CAGC at 11.85. No options sold against this yet.
Bought 200 shares of MA at 212.00, sold 2 call options, June 220s for 7.70.
Bought 300 shares of BIDU at 68.88, sold 3 call options, June 75s for 2.85.
See you next month...
Saturday, May 22, 2010
Saturday, May 8, 2010
LEGENDARY WEEK FOR THE STOCK MARKET. NOW WHAT?!
Its time to get long. But in America only. Buying American blue chip stocks will be profitable. Europe is not the place to invest. The American economy is doing amazingly well.
Our trades:
Buying 500 shares of BUCY stock at 52.50, selling 5 BUCY call options, May 55s for $2.00.
Expected profit in 2 weeks = $2250. Break even stock price = 50.50.
Buying 500 shares of CRM stock at 77.52, selling 5 CRM call options, May 80s at $2.75.
Expected profit in 2 weeks = $2625. Break even stock price = 74.75.
Buying 200 AAPL at 235.86, selling 2 AAPL call options, May 240s for $7.10.
Expected profit in 2 weeks = $2250. Break even stock pirce = 228.75.
ITS TIME TO MAKE SOME $$$ BEING LONG!!!
Our trades:
Buying 500 shares of BUCY stock at 52.50, selling 5 BUCY call options, May 55s for $2.00.
Expected profit in 2 weeks = $2250. Break even stock price = 50.50.
Buying 500 shares of CRM stock at 77.52, selling 5 CRM call options, May 80s at $2.75.
Expected profit in 2 weeks = $2625. Break even stock price = 74.75.
Buying 200 AAPL at 235.86, selling 2 AAPL call options, May 240s for $7.10.
Expected profit in 2 weeks = $2250. Break even stock pirce = 228.75.
ITS TIME TO MAKE SOME $$$ BEING LONG!!!
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