The Money Tree

Safely Generating Income in Retirement

November Results

Posted by mounddweller on November 22, 2009


Not much to report.  My ONXX $22.5 naked puts expired worthless.  For once I was able to correctly identify the line of support and use it to my advantage.  You’ll recall I sold the puts after ONXX had fallen from around $35 down to almost $25.  ONXX bounced off the support at $25 and rebounded up to almost $29 before selling off over the past few days.  It closed Friday at $27.99.

My only other open position continues to be my naked puts in UNG.  Natural gas sold off sharply again this month so once again I am fighting an uphill battle.  Fortunately, the last round of puts I sold don’t expire until January so I have some time for it to recover.

I haven’t identified any new trades for December.  Perhaps something will turn up in this holiday shortened week.

Have a great Thanksgiving holiday.





One Response to “November Results”

  1. Rich said

    My URE Nov 6 covered call expired OTM on friday. I sold a Dec 6 call today @ .50 this is in an IRA and I now have an 26.77% gain in 11 months on this scorecard.

    I also had a Nov 8 DRYS expire OTM. I entered a limit order for a Mar 8 covered call @ .56 when the market opened up but as soon as I did DRYS started to sell off and never came back. I will be patient and keep trying.

    I had a Nov 5 naked put expire OTM in my margin account. I have not done anything with it. I also have a position in PWE in the margin account with a cost basis of 16.44. PWE moved up with the market today. I think I will sell an ITM Dec 17.50 call and take my profit. I want to use the cash to work on selling Naked Puts with URE. I think I can continue to make a good return with this 2X ETF.


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