Investor's Opinion
Portfolio Update, Orders Entered and Executed
Published: 2010-05-11 20:42:00 EDT by Unknown
My next portfolio position to mention is that of Brocade Communications Sys, Inc. (BRCD). The three Call options I purchased on it were hit pretty hard last week. However, I believed that my position value would go back up. As a result I made a STC order to capture as much profit on them as I could the next time it went up . Unfortunately, I didn't expect it to go up so quickly and so soon. As a result it executed the trigger price of the order today and I am now out of the position. This is also the position I was talking about earlier when discussing CPLP. As a result of a miscalculation of the commission cost, I am pocketing less than the intended 50% profit on the trade. I should have calculated 150% on the base cost I got in for and then added the round-trip commission costs on top of that value, and then divided that sum by the number of contract shares. That then would have given me the price to sell.
My next portfolio position to mention is that of the United States Natural Gas Fund ETF (UNG). The two Call options I purchased on it were also hit hard last week. I also believe that the value will go up eventually. As a result, I made a STC order to capture a reasonable 50% profit on the position. Unfortunately, the calculation for this order was also off, so I will be increasing it along with the one for CPLP.
Finally, the iShares Silver Trust ETF (SLV) peaked above the $19 strike price for the Call option I sold against my shares. As a result, I am less confident that I will be holding on to both the premium for the call option I sold as well as my shares of SLV. Although I am less confident, I am not concerned, because I will collect a nice profit on the transfer of the shares. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
Labels: covered calls, MACD, option strategies, Stochastic, updateUpdated: 2010-05-11 22:11:23 EDT
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