Thursday, May 17, 2012

Options Trade & Update - CHK

I am reporting a few days late but I decided to close out of my options trade with CHK on 05/14.  I thought it might be a good speculative play on natural gas.  It still could be but there is way too much uncertainty with this company.  Management has been terrible and I don't trust them.  I am taking a loss but it's better to take a small loss now than a bigger loss later on.  This drops my yearly options profit $139 to $1205.  

Open:


01/23/12 Sold 1 KMI June 16 '12 $30 Put @ 2.25
03/12/12 Sold 1 AZN Oct 20 '12 $45 Put @ 3.00
03/28/12 Sold 3 BBVA July '21 '12 $7 Puts @ .55
04/09/12 Sold 1 VOD July 21 '12 $27 Put @ 1.45
04/30/12 Sold 1 PG July 21 '12 $62.50 Put @1.42

Closed Out:

05/14/12 Bought to Close 1 CHK July 21 '12 $16 Put @ 2.52
04/25/12 Sold 1 CHK July 21 '12 $16 Put @ 1.13
Profit: -$139 before brokerage fees

04/12/12 Sold 1 JNJ Oct 20 '12 $62.50 Put @ 2.60 
04/30/12 Bought to Close 1 JNJ Oct 20 '12 $62.50 Put @ 1.62
Profit: $98 before brokerage fees (not bad for only waiting 18 days)


01/19/12 Sold 2 TSM July 21 '12 $15 Puts @ 1.80
04/09/12 Bought to Close 2 TSM July 21 '12 $15 Puts @ 1.03
Profit: $154 before brokerage fees


01/03 - Sold 1 RIG $35 May 19 '12 PUT @ 2.11
03/12 - Bought to Close 1 RIG $35 May 19 '12 Put @ .09
Profit: $202.00 before brokerage fees 


01/06 Bought 10 SLV Jan 19 '13 $45 Calls @ 1.05
01/26 - Sold to Close 5 SLV Jan 19 '13 $45 Calls @ 1.85
02/28 - Sold to Close 5 SLV Jan 19 '13 $45 Calls @ 2.03
Profit: $890 before brokerage fees


Total Profit before fees: $1205

2 comments:

  1. Looks like your options are doing well so far this year. A loser here and here should be expected, we can't always win. I enjoy reading about your trades. Even though I don't play around with options very much, I find it fascinating.

    CI

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  2. Thanks CI. I'm glad you like keeping up with my options trades. I typically try to only sell puts on companies I'd like to own in my DG portfolio but I do make some riskier speculative trades. This usually feeds my need for wanting to gamble. If the market continues to go south I may be assigned several positions in July. My trading is going to be limited the next couple of months as I have an offer in on a house and will be saving money for a down payment.

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