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Strategies & Market Trends : Option Strategies

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From: Jim P.	8/16/2016 11:17:45 PM
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Bought SLCA average cost $40.76 today and sold covered calls Sept expiration strikes 42, 43 and 44. Premiums of $1.36, $1.05 and $0.70 Company is in the early stage of increasing demand in fracking sand and bought a company called Sandbox that may be a large profit driver. I am just interested in making money with the calls and if stock is called away I will trade with puts until the premiums are not lucrative. Increasing use of larger and larger amounts of sand will help the industry turn around faster than most suppliers to the oil and gas industry. I have been divesting myself of MLP's lately and have started adding stocks that I can sell covered calls and cash covered puts in the IRA. Order in to sell January $5 strike puts on STNG. I am losing some shares likely this Friday at $5 that I sold calls on last month. I put a limit order of $0.70 on the $5 strike puts. jim

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