Posting of Real-Time Trades and a VERY SIMPLE technique that makes TRADING SIMPLE!!!
Monday, August 4, 2008
BIHC
Back to .03 and still no P/R on the buyout, .025 and I think I give it a try.
2 comments:
Anonymous
said...
Not sure where I was to post this but have been reading the blog for about a week now and love it. Made some good $ following along with the obvious (own dd). So I just want to thank you for posting and please continue on posting! :)
Since I cant watch all day, I used covered calls as my short position.
I currently have two major miner positions...AUY and MFN. I have a much smaller position in Seabridge that I am still long in.
My AUY positions (total 1700 shares) are purchased in 100 share lots. I play my options in three chunks. Right now, my three chunks of 500 shares each are averaged at 14.44, 15.53 and 16.44. I wrote covered calls on the lower 500 shares for JAN with a strike of 15. I got .96 for them...total of $470. That sets up a 6.5% trade if I dont get optioned....and a 10.4% trade if I do. I figure my long term downside risk is low here...so I am fine with the tie up. I am long on my other two chunks currently. I am short term short on one of my remaining 100 share lots...august expiration ~3% profit..and long the other.
2 comments:
Not sure where I was to post this but have been reading the blog for about a week now and love it. Made some good $ following along with the obvious (own dd). So I just want to thank you for posting and please continue on posting! :)
Sam
Guys,
Since I cant watch all day, I used covered calls as my short position.
I currently have two major miner positions...AUY and MFN. I have a much smaller position in Seabridge that I am still long in.
My AUY positions (total 1700 shares) are purchased in 100 share lots. I play my options in three chunks. Right now, my three chunks of 500 shares each are averaged at 14.44, 15.53 and 16.44. I wrote covered calls on the lower 500 shares for JAN with a strike of 15. I got .96 for them...total of $470. That sets up a 6.5% trade if I dont get optioned....and a 10.4% trade if I do. I figure my long term downside risk is low here...so I am fine with the tie up. I am long on my other two chunks currently. I am short term short on one of my remaining 100 share lots...august expiration ~3% profit..and long the other.
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