Sold QCOM September Put
Not that I expect this trend to continue for months, but it sure is fun having a day like today. My long positions are climbing and my short position is falling. This is how it is supposed to work. Ive been searching for more trades to make and only had one that hit today. I started the day with a limit order for more UCO naked puts, far out of the money, but the leveraged oil ETF has only climbed since I entered the order. Thats fine with me. Im still long 300 shares of UCO with covered calls more than $6.50 out of the money.
I took the same approach with QCOM too. Im long 200 shares (without covered calls) and left a limit order in place close to the bid/ask. While QCOM was trading at $58.62, I sold one QCOM September $55 naked put for $1.00 and received $99.24 after commissions. Its a... [via Mytradersjournal - Stock...]