Last night I wrote that I had purchased some CSX October $57.50 CALLS for $1.20. As I had suspected, and wrote about last night, the market moved appreciably higher today on the backs of earnings from CSX, Intel, and JP Morgan (the latter two stocks did struggle today). Going higher with the broad market was CSX. I traded out of my position in CSX CALLS at roughly 11:30am EST this morning for $2.50. This represented a gain of roughly 108.33% in 22.5 hours (roughly), a new record for me.
I am still holding on to my C $4 October CALLS which are well in the money. Earlier today the options, traded up to $.30, along with the stock that traded for a while in the $4.29/$4.30 range. However, the stock got killed in the last hour, and traded back down to $4.25. In the after hours, the stock is currently at $4.24. The intrinsic value of the options is currently $.25, representing a gain of 317%. I suspect C will continue to trade up through Friday's close with the general market. If C gets around $4.30 tomorrow or during the day Friday, I may strongly consider trading out of that position. We'll see.
Wednesday, October 13, 2010
Tuesday, October 12, 2010
My Portfolio Beating Market, Up 8.80% This Year
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The Wilshire 5000 closed at 12,323.47, up from 12,072.58, or 2 .08%, since October 2nd. The Wilshire 5000's 200-day moving average currently sits at 11,659.37, or 5.70% below Tuesday's close.
The Investor's Intelligence Survey was released on Thursday night. This week's reading was 45.6% BULLS, and 28.3% BEARS, for a spread of 17.3%. This is in comparison to a reading of 43.3% BULLS, and 27.8% BEARS, for a spread of 15.5% on September 28th. Bullish sentiment has now turned higher in five consecutive weeks.
The Volatility Index closed Friday at 18.93, down from 22.50 back on October 1st.
Now for the portfolio...
1) Verizon at $32.54, up 6.50% for the year, inclusive of dividends. FTR, the recent spinoff, recently closed at $8.63/share, worth $60.41 to this portfolio currently.
2) AT&T closed at $28.03, up 1.62% for the year, inclusive of dividends.
3) GE closed at $17.19, up by 14.28% for the year, inclusive of dividends.
4) TBT, the doubleshort U.S. Treasury ETF closed at $32.32, down an abysmal 25.97% since my buy.
5) January 2011 WHR $75/$85 Call spread purchased a few weeks back closed at $5.05, up 8.60% since my buy.
6) December 2010 SPY $102 Calls closed at $14.92, up 7.98% since my buy. It is worth noting here that the bid/ask prices for these options is well above the "last" price of $14.92. This is due to the fact that these options are well into the money right now, and as such their volume is exceptionally light.
7) January 2012 DD $45/$55 Call spreads purchased a few weeks back closed at $3.76, up 3.01% since my buy.
8) AAPL closed at $298.54 up by 54.09% since my buy.
9) January '12 Citigroup Calls closed at $.15, down by 65.91% since my buy.
10) C closed at $4.24, up by 6.53% since my buy.
11) GS closed at $155.21, up by 14.04% since my buy.
Overall, the portfolio is up by 8.80% (8.41% for the DOW Dogs), versus 7.18% for the Wilshire 5000. The current basket of eleven stocks and options that I am currently invested in, including dividends, is up 1.56% year-to-date. The spread between my performance and the overall market (Wilshire 5000) is at 1.62% outperform. It is also worth noting that this portfolio is up 4.70% since my last post, versus 2.18% for the Wilshire 5000 in the same time period.
The Wilshire 5000 closed at 12,323.47, up from 12,072.58, or 2 .08%, since October 2nd. The Wilshire 5000's 200-day moving average currently sits at 11,659.37, or 5.70% below Tuesday's close.
The Investor's Intelligence Survey was released on Thursday night. This week's reading was 45.6% BULLS, and 28.3% BEARS, for a spread of 17.3%. This is in comparison to a reading of 43.3% BULLS, and 27.8% BEARS, for a spread of 15.5% on September 28th. Bullish sentiment has now turned higher in five consecutive weeks.
The Volatility Index closed Friday at 18.93, down from 22.50 back on October 1st.
Now for the portfolio...
1) Verizon at $32.54, up 6.50% for the year, inclusive of dividends. FTR, the recent spinoff, recently closed at $8.63/share, worth $60.41 to this portfolio currently.
2) AT&T closed at $28.03, up 1.62% for the year, inclusive of dividends.
3) GE closed at $17.19, up by 14.28% for the year, inclusive of dividends.
4) TBT, the doubleshort U.S. Treasury ETF closed at $32.32, down an abysmal 25.97% since my buy.
5) January 2011 WHR $75/$85 Call spread purchased a few weeks back closed at $5.05, up 8.60% since my buy.
6) December 2010 SPY $102 Calls closed at $14.92, up 7.98% since my buy. It is worth noting here that the bid/ask prices for these options is well above the "last" price of $14.92. This is due to the fact that these options are well into the money right now, and as such their volume is exceptionally light.
7) January 2012 DD $45/$55 Call spreads purchased a few weeks back closed at $3.76, up 3.01% since my buy.
8) AAPL closed at $298.54 up by 54.09% since my buy.
9) January '12 Citigroup Calls closed at $.15, down by 65.91% since my buy.
10) C closed at $4.24, up by 6.53% since my buy.
11) GS closed at $155.21, up by 14.04% since my buy.
Overall, the portfolio is up by 8.80% (8.41% for the DOW Dogs), versus 7.18% for the Wilshire 5000. The current basket of eleven stocks and options that I am currently invested in, including dividends, is up 1.56% year-to-date. The spread between my performance and the overall market (Wilshire 5000) is at 1.62% outperform. It is also worth noting that this portfolio is up 4.70% since my last post, versus 2.18% for the Wilshire 5000 in the same time period.
What I Traded Today
Today I bought some $57.50 October 16th CALLS of CSX (Ticker: CSX) at around noon for $1.20. Unfortunately, I did my analysis of the stock late yesterday evening, and did not get the time to post on the blog about it. Given the state of the economy, and what I deemed to be "softish" earnings expectations by analysts, I thought this stock would be a good earnings play. As of now, 7pm EST, CX is trading at $58.52 in the after hours after posting earnings of $1.08, beating the Street's estimates of $1.04.
I suspect tomorrow we will see decent earnings from JP Morgan (JPM) before the bell, and we will also be buoyed by earnings beats by Intel and CSX, as well as the Fed's QE2 guidance this afternoon. I am expecting to see a high volume day in CSX tomorrow, and potentially a move up and through $59 in the stock. So far my thesis on a pop from earnings is correct, we will see how my options play pans out in the days ahead.
I suspect tomorrow we will see decent earnings from JP Morgan (JPM) before the bell, and we will also be buoyed by earnings beats by Intel and CSX, as well as the Fed's QE2 guidance this afternoon. I am expecting to see a high volume day in CSX tomorrow, and potentially a move up and through $59 in the stock. So far my thesis on a pop from earnings is correct, we will see how my options play pans out in the days ahead.
Sunday, October 10, 2010
233% Gain!? I Hope You Jumped On Citi $4 Options
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Unfortunately, I have been exceptionally busy lately, and have not had time to update you on some of the stock and options picks I have made in the past month or so. I will try to do so this coming week, however, I wanted to update you on the Citi position I am currently in.
As you recall in this post I stated that I would be buying C $4 October 16th CALLS. I did so at $.06 the following day. If you're following the stock, you know that it closed at $.19 this past Friday, and moved to $.20 in the after hours. The options I purchased closed at $.20 on Friday. As is now, I believe we are going to see a continuation of the broad market rally this week. I also believe the lack of government selling will continue to buoy C into earnings next Monday. As such, I am going to leave this trade on. Currently, the C options I am in have an intrinsic value of $.20 (using the after hours close), and a time value of $.00. I suspect the options will open somewhere in the $.21-.22 range tomorrow, and continue to move higher throughout the week. So far my gain is 233.33%. I'll update you as the week progresses.
Unfortunately, I have been exceptionally busy lately, and have not had time to update you on some of the stock and options picks I have made in the past month or so. I will try to do so this coming week, however, I wanted to update you on the Citi position I am currently in.
As you recall in this post I stated that I would be buying C $4 October 16th CALLS. I did so at $.06 the following day. If you're following the stock, you know that it closed at $.19 this past Friday, and moved to $.20 in the after hours. The options I purchased closed at $.20 on Friday. As is now, I believe we are going to see a continuation of the broad market rally this week. I also believe the lack of government selling will continue to buoy C into earnings next Monday. As such, I am going to leave this trade on. Currently, the C options I am in have an intrinsic value of $.20 (using the after hours close), and a time value of $.00. I suspect the options will open somewhere in the $.21-.22 range tomorrow, and continue to move higher throughout the week. So far my gain is 233.33%. I'll update you as the week progresses.
Saturday, October 2, 2010
Market, Portfolio Still In The Black - Finish Week Flat
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The Wilshire 5000 closed at 12072.58, up from 12,062.80, or .08%, since September 24th. The Wilshire 5000's 200-day moving average currently sits at 11,636.13, or 3.75% below Friday's close.
The Investor's Intelligence Survey was released on Thursday night. This week's reading was 43.3% BULLS, and 27.8% BEARS, for a spread of 15.5%. This is in comparison to a reading of 41.4% BULLS, and 29.3% BEARS, for a spread of 12.1% on September 21st. Bullish sentiment has now turned higher in four consecutive weeks.
The Volatility Index closed Friday at 22.50, up from 21.71 back on September 24th.
Now for the portfolio...
1) Verizon at $32.89, up 7.64% for the year, inclusive of dividends. FTR, the recent spinoff, recently closed at $8.18/share, worth $57.26 to this portfolio currently.
2) AT&T closed at $28.81, up 3.13% for the year, inclusive of dividends. (Note: apparently in a few of the most recent portfolio updates I had given some inaccurate prices. I use two "portfolios" in two different websites to quickly access prices for this blog, and in one location I had ATT, and the other I had T for this equity. As it turns out, T is the stock, and ATT is the debt. My apologies for any confusion.)
3) GE closed at $16.36, up by 8.76% for the year, inclusive of dividends.
4) TBT, the doubleshort U.S. Treasury ETF closed at $31.54, down an abysmal 27.75% since my buy.
5) January 2011 WHR $75/$85 Call spread purchased a few weeks back closed at $4.84, up 4.09% since my buy.
6) December 2010 SPY $102 Calls closed at $13.93, up 7.98% since my buy.
7) January 2012 DD $45/$55 Call spreads purchased a few weeks back closed at $3.28, down 10.14% since my buy.
8) AAPL closed at $282.52 up by 45.82% since my buy.
9) January '12 Citigroup Calls closed at $.15, down by 65.91% since my buy.
10) C closed at $4.09, up by 2.76% since my buy.
11) GS closed at $147.70, up by 8.52% since my buy.
Overall, the portfolio is up by 4.10% (8.41% for the DOW Dogs), versus 5.00% for the Wilshire 5000. The current basket of eleven stocks and options that I am currently invested in, including dividends, is down 2.84% year-to-date. The spread between my performance and the overall market (Wilshire 5000) is at .90% underperform.
The Wilshire 5000 closed at 12072.58, up from 12,062.80, or .08%, since September 24th. The Wilshire 5000's 200-day moving average currently sits at 11,636.13, or 3.75% below Friday's close.
The Investor's Intelligence Survey was released on Thursday night. This week's reading was 43.3% BULLS, and 27.8% BEARS, for a spread of 15.5%. This is in comparison to a reading of 41.4% BULLS, and 29.3% BEARS, for a spread of 12.1% on September 21st. Bullish sentiment has now turned higher in four consecutive weeks.
The Volatility Index closed Friday at 22.50, up from 21.71 back on September 24th.
Now for the portfolio...
1) Verizon at $32.89, up 7.64% for the year, inclusive of dividends. FTR, the recent spinoff, recently closed at $8.18/share, worth $57.26 to this portfolio currently.
2) AT&T closed at $28.81, up 3.13% for the year, inclusive of dividends. (Note: apparently in a few of the most recent portfolio updates I had given some inaccurate prices. I use two "portfolios" in two different websites to quickly access prices for this blog, and in one location I had ATT, and the other I had T for this equity. As it turns out, T is the stock, and ATT is the debt. My apologies for any confusion.)
3) GE closed at $16.36, up by 8.76% for the year, inclusive of dividends.
4) TBT, the doubleshort U.S. Treasury ETF closed at $31.54, down an abysmal 27.75% since my buy.
5) January 2011 WHR $75/$85 Call spread purchased a few weeks back closed at $4.84, up 4.09% since my buy.
6) December 2010 SPY $102 Calls closed at $13.93, up 7.98% since my buy.
7) January 2012 DD $45/$55 Call spreads purchased a few weeks back closed at $3.28, down 10.14% since my buy.
8) AAPL closed at $282.52 up by 45.82% since my buy.
9) January '12 Citigroup Calls closed at $.15, down by 65.91% since my buy.
10) C closed at $4.09, up by 2.76% since my buy.
11) GS closed at $147.70, up by 8.52% since my buy.
Overall, the portfolio is up by 4.10% (8.41% for the DOW Dogs), versus 5.00% for the Wilshire 5000. The current basket of eleven stocks and options that I am currently invested in, including dividends, is down 2.84% year-to-date. The spread between my performance and the overall market (Wilshire 5000) is at .90% underperform.
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