Thursday, November 6, 2014

Trading update: Banking on America

I closed a short-put position.  (Buying them back)

BAC - Bank of America
$17 Nov 21 expiry.

Opened @ $0.70 (opened Oct 15th)
Closing @ $0.13 (closed Nov 6th)

81% capture

My apologies to my readers who are option-novices. This might seem a little cryptic.  I won't be trading tomorrow...  3 day weekend!

Stay hungry my friends!


  1. Thanks for sharing your recent options update with us. While I have been reading up on options trading I still have not ventured into the area. If anything, I would most like write covered calls or write puts on stocks I was looking to buy. One day I'll get my feet wet. Keep sharing your options adventures with us.

    1. As me anything you like. I'm @blerghhh on twitter. If you're going to write covered-calls, make sure you are HAPPY to sell the underlying stock AT the strike price. Also, do find out what your "assignment fees" are at your brokerage. (Your brokerage might charge you to settle the contract) And at some brokerages that fee is very high.