Only 3 call positions: CRWD, UPST and SQ. Already had a November put on UPST and an October put on GLBE so kept my exposure limited. Still made 150% of my weekly target for RMD.
Market is at yearly low and fear/greed is mid-teens so I think I will add on the puts in the coming week. Never know until the market opens on Monday.
KC
I have 7 options that expire on the 7th, four calls and three puts. Two of the calls are barely in the money. They looked good yesterday in the first hour, were out of the money, but that little rally moved them back in the money. The four puts are pretty safe. I have 3 puts and 3 calls expiring on the 21st. I don’t like having options that far out, but I made a mistake Monday when I opened options, selling to open. I just didn’t see that SPG, DOCS and GLBE did not have weekly options and the first expiration date was 3rd Friday. My bad. A problem is that I have to have cash to cover the puts and that cash is not available for opportunistic buys. And even out of the money, which those 3 are, there is too much time premium so too costly to “buy to close”.
When a position goes sour and the market is turbulent, there is always a cold one and a calming view. Premarket NASDQ is up 0.1%, like a calm sea.
KC, who is headed for the kitchen and a cold Gold Eagle.
All of the 10/7 options expired out of the money. Made 0.3% for the week. That’s nice as far as covering RMD and living expenses, but it is about as satisfying as winning the last game of the season and ending 35 games out if first place. I may sell a few calls this week, particularly if there is any kind of Monday rally. I still have 7 open positions so I don’t feel much pressure. Most interesting position is UPST $20 put expiring out in November. UPST is trading pennies above the strike. UPST is 2.4% of portfolio and the puts would add 1.2% at an effective price of $16.85. Puts are selling at $3.46 now so I could sell more puts. October 18.50 puts are $0.40 now so if put to me that’s 18.10 net. Not much into the pocket.
Anyway, I have other issues to attend. 3 days of flu are being overcome, so that is welcome. However, Schwab is regretting to inform me that DW’s IRA will be suspended in early December as they will no longer service accounts of residents of the Philippines. No words of justification, just deepest regrets. Just an email that I thought could be phishing but they confirmed through the secure message channel. One wonders. Geez, did Bongbong buy some crude from the Vlad or maybe sold back some of the assault rifles that Duterte bought? Whatever. So I am scrambling. Considering Merrill Edge, E*Trade, and Interactive. Found out that foreign residents cannot open ME accounts online and 2 months won’t be enough time for the primitive mail service. Interactive is the most oriented towards international clients so I may try them. But she has her own “formerly known as” issues that could cause online account establishment problems.
Jeez, had to walk 300 meters down the ridge in the dark to the internet xmitter/receiver station to reset the circuit breaker to finish this post and get set for Monday in the Market. Should write a book. DW is making her first post op solo voyage into the provincial capital. How ya gonna keep 'em down on the farm…
KC
Your life is so much more interesting than mine.
I drove my kids to a school play yesterday. Got Dairy Queen after. That’s all I got.
Dreamer
