In my last post I had spoke of putting in an order to sell a Call option against my position of the iShares Silver Trust ETF (SLV). That order never got executed because the value of my shares never went high enough to trigger the contingency. That is fine as I am just moving it over to the next months Call option.

Since then, however, I have been manually updating a stop order against my shares of EV Energy Partners, LP (EVEP). Today that stop was triggered and I captured a profit of a little under 32% including cost of commissions and fees. It is m opinion that EVEP will be pulling back between $32.50 and $30 before it . This particular opinion depends on it actually closing below a secondary trend line with an upcoming intersection of $34.52. I have this contingency in my opinion because for this triggered stop I used low of the of the "out of the ordinary" sell off and rebound in the stock back on the 6th of May as the starting point of the trend. In all honesty, I probably shouldn't have as such behavior is an anomaly and the low of May 21st was a lot more reasonable. However, profit is profit.

In addition to this profit taking, I am also taking the opinion that Capital Product Partners, LP (CPLP) is over bought again and will be repeating it's basing behavior. This time I believe it will base down around the $7 dollar range. As a result of my opinion I purchased the CPLP December 2010 $7.50 Put option. I choose this option because the December 2010 $10 Put is too expensive for my current cleared capital, the September 2010 $10 Put is to close in time, and none of the current $10 Call options will give me a satisfactory premium without risking the loss of the stock below my cost basis. I am also setting it up to Sell-To-Close (STC) after the underling stock drops below $7.50 I may be "leaving some money on the table", but I rather not be greedy. After all, there is always another trade to be made. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com