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Strategies & Market Trends : Option Strategies

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From: Jim P.	9/20/2016 2:43:45 PM
	of 2591

I lost some shares at $42 to covered calls on Friday. The shares with strikes of $43 and $44 I did not lose and I sold covered calls at $46 strike for $1.05 for October Cash from some of the shares lost at $42 used to sell cash covered puts at $41 for $1.05 also for October. Basis on most of the stock is about $40.7 so the monthly call and put premium is relatively rich. I chose my strike prices by looking at the uptrending trading channel of the stock and what the return is on my $40.70 basis in just option premium. Jim seekingalpha.com U.S. Silica ( SLCA +0.8%) is added to the U.S. Focus List at Credit Suisse, which argues that the company is in the “right place [at the] right time" to capitalize on frack and completion intensity through the course of the cycle. Credit Suisse says sand stocks should replace land drillers this cycle as the most levered to a recovery in North American activity, as it expects sand demand in 2018 to eclipse the demand level of 2014, while its rig count forecast is ~25% below the upper end of the consensus range, implying further potential upside for sales, margins, and the stock price. The firm says SLCA's acquisitions this year of a regional sand mine and supplier, and one of the leading last-mile logistics technology companies, were accretive and establish the company as the most aggressive acquirer of reserves and give it a first-mover advantage in the all-important last-mile logistics space.

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