Some cc results now that I've had time to bookkeep the stuff from the last option expiration date.
You might wish to recall, I'm doing buy-write with this stuff, not selling ccs and hoping to keep the shares. In fact, getting called out is a goal.
1. Bought Juniper at $6.95 on July 10th, sold Aug $7.50 ccs at $.70. Called out on August 17th for a total return of $1.25. 17.5%. I hope there are more 5 week periods that are as profitable. ;-)
2. But I've stumbled with Seibel. Bought on July 16th at $11.79 and sold Aug 12.50s for $1.35. Siebel dipped sharply, so unthinking, I bought them back at $.35, hoping to resell them. No go. I made some more mistakes before I settled on the notion that I buy back only under the most extreme circumstances. Better just to hold on. However, I did wind up making $.82 a share for a return of 9.24%. Again, if my mistakes can produce that return, I'm happy. They won't but . . .
3. Bought Network Appliance at $9.36 on July 26th and sold Sept 12.50s at $1.25. Those are, obviously, still out there. If not called, they produce 12.9%; if called 19.45%. Over an almost two month period.
4. Bought Bea Systems at $6.63 on August 21st and sold Sept $7.50s at $.30. The aim here is to work in shorter time periods, a month rather than two months. These are outstanding. Return on uncalled is 4.2%, called is 19.45%
5. Bought Ciena at $4.23 on August 21st and sold Sept $5.00s at $.25. Ditto above. Retrun on uncalled is 5.4% and called is 23.3%
6. Sold Siebel Sept $12.50s when the trading price was $9.50, the shares from above, on August 21st, at $.10. Ditto above. This last sale shows I'm once again not working Siebel well, as I reflect on it. Still hung up on the $11.79 I originally paid, when I should pay more attention to the present trading price. Return on uncalled is .6% and called is 31.9%.
Any comments from anyone would be more than welcome. |
