following the stock market activities of Tom Denham
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16 May 2014

My profit from trading May options was -0.49 percent of my ending April portfolio value. The problem was not from option trading, but from losing with 5 of 6 day trades during the period. Absent the losses from day trading, May would have been a good month.

Honestly, I am not such a bad day trader, but I was hedging option positions near the end of the month when I should have remained un-hedged.

I remain bored with posting trades, so am posting only monthly summaries at this time.

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17 April 2014

My gains from trading April options, shares, and collecting dividends were 0.81 percent of March’s ending portfolio value. The stock market marched up and down most of the period and I made little effort to participate.

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21 March 2014

My gains from trading March options, shares, futures, and collecting dividends was 1.29 percent of February’s ending portfolio value.

March was quiet compared to the excitement of February. My exposure to the market is about as low as it has been in years.

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17 March 2014 Comment

I have gotten tired of updating trades on a daily basis. I think I will continue to update the site on a monthly basis, but am planning to stop daily updates as of this past Friday.

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21 February 2014 Trades

My gains from trading February options were 3.59 percent of my January portfolio value. Profits were higher because I traded much more aggressively than usual when the market was weak with short positions, bearish spreads, and naked calls. I reduced bearish trades as the market rallied and maintained a good portion of the profits made.

My big mistake over the past month was exiting positions in utility companies too aggressively. I had been holding losing positions for months and saw the rally as a chance to exit. The rally continued high enough that I regretted not staying along for the ride longer. However, I have not made big commitments to utilities for March, at least not yet.

I bought puts at 104 and sold three times as many puts at 101 in IWM. My thought is that I can hedge if IWM falls through 101. The ideal development would be to fall to 101, making the puts I own valuable, but not beginning to erode profits by penetrating 101.

I took losses on several share positions.

Option sales:
UNH Feb70Put $0.05
GLD Feb127Put $0.07
TUR Feb44Put $0.05
UNH Feb28-65Put $0.04
EEM Feb28-37Put $0.04
EEM Mar7-35.50Put $0.05
EMB Mar100Put $0.13
KOL Mar17Put $0.10
WPC Mar55Put $0.10
HK Mar4Call $0.25
Spread Trades:
IWM Mar7-104Put -$0.09
IWM Mar7-101Put $0.15
$0.06
SPY Mar181Put -$1.46
SPY Mar179Put $1.05
SPY Mar176Put $0.68
$0.27
CVE Mar22.50Call $3.36
CVE Mar25Call -$1.00
$2.36
Adjustments:
EWT Shares 1/13/2014 $13.93
EWT Shares 2/21/2014 -$14.03
-$0.10
CYB Shares 2/21/2014 $25.42
CYB Shares 1/17/2014 -$25.59
-$0.17
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