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Strategies & Market Trends : Calls and Puts for Income -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (5199)	6/24/2012 6:40:45 AM
From: dealmakr	1 Recommendation Read Replies (2) \| Respond to of 5891

Jon, Great writeup of your week of trading, I think that sometimes you get a better handle on things if you put them down on paper and review whats going on. Added to my ETFC position long around 7.80 and sold short Jul 8 CC's for around .30. If called will get about a 6.5% return for the month on the long side and with the stock selling near the yearly low, hopefully not a big downdraft potential. The bank side has been rolling off about 2% per month in exposure and things are improving little by little over the long term. I watch these numbers closely every month to see how they are doing. Also with PNSN going away a few problems have arisen with some of the smaller brokers out there as far as margin requirements with APEX the new clearing broker that was set up by Peak 6. For some info on the ETFC bank exposure; finance.yahoo.com Also added to my XRX position around the 7.80 area and wrote the Jul 8 Calls. I am trying to reduce the DCA on the total position, but if called away will have to be more aggressive in trying to work the position out. Sold a few WAG Aug 27 puts for .48 early in the week, with the premise would be put the stock at a bit over 4% dividend yield. Also had a few WLT 42.5 puts bingo on the weekly series , thanks to the Commander for bringing that one up. SOHU nearing 40 is a trade that is now working against me and will be looking for the next earnings report to see what I am going to do. Bot in my short HBAN Jul 7 Calls for cheap and will be opening more of the Jan 7.5 calls. My thinking is also the potential of a dividend hike in SEP. Earnings season starts in about 2 weeks and with everything else going on will expect overall volatility to remain higher. Good Trading dealmakr