I decided to close out one of my BBL puts that I just sold last week! That post is here. I had a nice quick gain and decided to take advantage. This also freed up more cash in the event that the 2 PAAS puts gets assigned this month which still looks very likely.
The trades:
07/12/13 BTC 1 BBL Dec 21 '13 $50 Put @ 3.2
07/05/13 Sold 1 BBL Dec 21 '13 $50 Put @ 4.5
I earned a profit of $130 in only a week! I did pay commissions of $21.50 so my net profit was $108.50 in only 7 days! Taking my margin requirements into account, this trade only tied up about $500. That's over a 20% profit in 7 days. The calculator I was using gave an error for annualized rate of return since it's over 10,000%!
I currently have 14 open options positions and a total options profit of $3098 for 2013 and have met my $3000 goal for the year. My options income still continues to outpace my dividend income but I believe that my dividend income will catch up to and pass my options income in the third quarter.
My options page has been updated accordingly.
No comments:
Post a Comment