The Money Tree

Safely Generating Income in Retirement

What Others are Trading – NOV 2011

Posted by mounddweller on November 4, 2011

Fellow Traders,

Each month I create a message on my blog for my readers to post their favorite trades.  I’m a few days late this month but here you go.  What have you been successfully trading these past few weeks?  What looks good to you right now?  Let your voice be heard.  Post your replies here.

Regards,

Troy

 

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3 Responses to “What Others are Trading – NOV 2011”

  1. dealmakr said

    Hi Troy,

    Thanks again for setting up those scans for the weekly series, they make for some good opportunities at times.

    Here is a new position in HCBK that I just opened and an update on a few others that I am working, haven’t updated all of them yet.

    HCBK position 11/04/11

    After looking deeper into this one , have decided to take a longer term play. Book value north of 10 with tangible book over 9. Bank was overleveraged on the asset side and in delevering the stock got crushed. Still a premier franchise in the metro NY area yielding north of 5% on the dividend with some fairly decent premium available for writing options.

    10/26/11 Bot 5000 HCBK 5.75 (28750)
    10/26/11 Bot 5000 HCBK 5.81 (29050)
    10/26/11 Bot 5000 HCBK 5.84 (29200)
    10/26/11 Sold 100 Nov 6 Call .15
    10/26/11 Sold 50 Dec 5 Put .15
    10/28/11 Bot 5000 HCBK 6.29 (31400)
    10/28/11 Sold 50 Dec 6 Call .475 avg
    11/01/11 Bot 5000 HCBK 5.9 (29500)
    11/01/11 Sold 100 Nov 6 Call .15
    11/02/11 Sold 25 Jan 5 Put .25
    11/02/11 Sold 20 Apr 7 Call .25

    Closed trades Profit/Loss

    11/02/11 Dividend .08 on 25000 shares 2000

    Total return P/L on closed trades 2000

    Long 25000 HCBK avg/share 5.916 (147900)

    Short 200 Nov 6 Call 3000
    Short 50 Dec 5 Put 750
    Short 50 Dec 6 Call 2375
    Short 25 Jan 5 Put 625
    Short 2 Apr 7 Call 500

    Net position exposure

    Covered calls 25000 shares
    Naked calls 2000 shares
    Naked puts 7500 shares

    Position updated SVU 10/24/11

    Didn’t know if the 2500 shares would be called away as the stock closed at 7.99 on Friday. Will look to open another round of CC’s for the stock owned at 9 and may sell the 2500 owned at 8 if it pops a bit and go back to opening a short put depending upon how it trades. Earnings looked ok for some support and writing options at this level.

    03/23/11 Bot 4000 SVU 8.38 (33520)
    03/23/11 Sold 40 Apr 7 put .05*
    03/23/11 Sold 40 Jul 9 call .60
    03/29/11 Bot 2500 SVU 8.77 (21925)*
    03/29/11 Sold 25 May 9 Call .55*
    04/04/11 Bot 2500 SVU 8.99 (22475)*
    04/04/11 Sold 25 Apr 9 Call .35* (round1)

    07/27/11 Bot 4000 SVU 8.70 (34800)
    07/27/11 Sold 40 Aug 9 Call .30*
    08/01/11 Sold 25 Aug 8 Put .25*
    08/10/11 Sold 25 Aug 7 Put .40*
    08/10/11 Sold 25 Aug 7 Put .46*
    08/10/11 Sold 20 Oct 9 Call .2*
    08/12/11 Sold 20 Oct 9 Call .31*
    08/12/11 Sold 50 Aug 6 Put .06*
    08/19/11 Bot 2500 SVU 8 (20000) exercise
    08/26/11 Sold 20 Sep 7 Put .46*
    08/31/11 Sold 25 Sep 8 Call .35*
    09/29/11 Sold 25 Oct 8 Call .10*

    Closed trades Profit/Loss

    04/16/11 Expired 40 Apr 7 Put 200
    04/16/11 Exercised 25 Apr 9 Call 875
    04/16/11 Sold 2500 SVU 9 25
    04/20/11 Bot close 25 May 9 Call 1.85 (3250)
    04/20/11 Sold 2500 SVU 10.80 5075
    05/27/11 Dividend on 4000 SVU .0875/share 350
    06/08/11 Sold 4000 SVU 8.77 1560
    06/08/11 Bot close 40 Jul 9 Call .45 600

    Total return P/L on closed trades 5435 (round 1)

    08/19/11 Expired 50 Aug 6 put 300
    08/19/11 Expired 40 Aug 9 Call 1200
    08/19/11 Exercise 25 Aug 8 Put 625
    08/19/11 Bot close 50 Aug 7 Put .05 1900
    08/30/11 Dividend on 6500 SVU 568.75
    09/17/11 Expired 20 Sep 7 Puts 920
    09/17/11 Expired 25 Sep 8 Calls 875
    10/22/11 Expired 25 Oct 8 Call 250
    10/22/11 Expired 40 Oct 9 Call 1020

    Total return P/L on closed trades 7658.75 (round 2)

    Long 6500 SVU avg/share 8.43 (54800)

    Stock closed 10/22/11 7.99

    Net position Exposure

    Good Trading

    dealmakr

  2. dealmakr said

    Updated Position HBAN 10/22/11

    03/04/11 Bot 8000 HBAN 6.53 (52240)
    03/04/11 Sold 80 Apr 6 put .12*
    03/04/11 Sold 80 Apr 7 call .13*
    03/07/11 Bot 2500 HBAN 6.68 (16700)
    03/07/11 Sold 25 Jul 6 Put .33*
    03/07/11 Sold 25 Jul 7 call .45*
    03/08/11 Sold 25 Jul 6 Put .30*
    03/09/11 Bot 5000 HBAN 6.77 (33850)
    03/14/11 Sold 50 Jul 8 call .16*
    03/18/11 Sold 50 Oct 6 Put .48*
    03/23/11 Sold 30 May 7 Call .17*
    03/28/11 Bot 3000 HBAN 6.67 (20010)
    04/21/11 Sold 40 Oct 6 Put .36*
    04/21/11 Sold 40 Oct 8 Call .15*
    04/21/11 Bot 4000 HBAN 6.57 (26280)
    04/28/11 Sold 80 May 7 Call .07*
    04/28/11 Sold 25 Oct 7 Put .68*
    05/23/11 Sold 50 Oct 7 Call .27*
    06/01/11 Sold 60 Jul 7 Call .06*
    06/06/11 Bot 2500 HBAN 6.04 (15100)
    06/06/11 Sold 25 Oct 6 Call .50*
    06/07/11 Sold 25 Oct 6 Call .60*
    06/07/11 Sold 25 Oct 7 Call .21*
    06/08/11 Sold 50 Oct 7 Call .21*
    06/14/11 Bot 2500 HBAN 6.36 (15900)
    06/24/11 Sold 50 Aug 7 Call .06*
    07/21/11 Sold 30 Sep 5 put .05*
    07/21/11 Sold 100 Sep 5 Call .05*
    07/21/11 Sold 50 Oct 5 Put .07*
    07/21/11 Sold 50 Jan 5 Put .20
    07/26/11 Bot 2500 HBAN 6.03 (15075)
    07/26/11 Sold 25 Aug 6 Call .18*
    07/27/11 Sold 25 Aug 6 Put .20*
    08/04/11 Sold 25 Oct 5 put .20*
    08/05/11 Sold 40 Aug 5 Put .09*
    08/11/11 Sold 10 Aug 5 Put .28*
    08/11/11 Sold 40 Sep 4 Put .15*
    08/11/11 Sold 10 Sep 5 put .47*
    08/11/11 Sold 25 Oct 6 Call .21*
    08/19/11 Sold 50 Oct 4 put .26*
    08/19/11 Bot 2500 HBAN 4.68 (11700)
    08/26/11 Sold 100 Jan 2.5 put .09
    08/26/11 Sold 50 Jan 7.5 Call .08
    09/20/11 Sold 40 Jan 4 Put .24
    09/20/11 Sold 40 Apr 7 Call .20
    09/20/11 Sold 50 Apr 3 put .15
    09/21/11 Sold 75 Nov 6 Call .08
    09/29/11 Sold 50 Nov 6 Call .07
    09/29/11 Sold 50 Nov 4 Put .14
    10/04/11 Sold 40 Apr 7 Call .21
    10/12/11 Sold 40 Apr 4 put .35
    10/12/11 Sold 20 Apr 7 Call .30
    10/21/11 Sold 75 Nov 5 Call .24
    10/22/11 Bot 7500 HBAN 5 (37500)
    10/22/11 Bot 2500 HBAN 7 (17500)

    Closed trades Profit/Loss

    03/16/11 Dividend .01 on 15500 shares 155
    04/16/11 Expired 80 Apr 6 Put 960
    04/16/11 Expired 80 Apr 7 Call 1040
    05/21/11 Expired 110 May 7 Call 1070
    05/23/11 Bot Close 50 Jul 6 Put .17 725
    06/07/11 Bot close 85 Jul 7 call .03 1050
    06/15/11 Dividend .01 on 27500 shares 275
    07/07/11 Bot Close 90 Oct 6 Put .19 2130
    07/15/11 Expired 50 Jul 8 Call 800
    08/05/11 Bot close 25 Aug 6 Put .60 (1000)
    08/19/11 Expired 25 Aug 6 call 450
    08/19/11 Expired 50 Aug 7 call 300
    08/19/11 Bot close 50 Aug 5 Put .34 (1060)
    09/13/11 Bot close 40 Sep 5 put .31 (620)
    09/15/11 Dividend .04 on 32500 shares 1300
    09/17/11 Expired 40 Sep 4 Put 600
    09/17/11 Expired 100 Sep 7 Call 500
    10/04/11 Bot close 125 Oct 7 call .01 2800
    10/22/11 Expired 75 Oct 6 Call 3275
    10/22/11 Expired 40 Oct 8 Call 600
    10/22/11 Expired 50 Oct 4 Put 1300
    10/22/11 Exercised 75 Oct 5 Put 850
    10/22/11 Exercised 25 Oct 7 Put 1700

    Total return on closed trades 19200

    Long 42500 HBAN avg/share 6.16 (261825)

    Stock closed 10/22/11 4.90

    Short 50 Nov 4 Put 700
    Short 75 Nov 5 Call 1800
    Short 125 Nov 6 Call 950
    Short 100 Jan 2.5 Put 900
    Short 40 Jan 4 Put 960
    Short 50 Jan 5 Put 1000
    Short 50 Jan 7.5 Call 400
    Short 50 Apr 3 Put 750
    Short 40 Apr 4 Put 1400
    Short 100 Apr 7 Call 2240

    Net Position Exposure

    Covered calls 35000 shares
    Naked puts 33000 shares

    Earnings came out at .16 for the quarter and some say they missed by .01, stock sold down from around the 5.25 area to close under 5 at expiration. Decided to take in additional shares assigned at 5 & 7 with the avg cost on assignment at 5.50 and reduced the total DCA on the position by .20 / share. Wrote the Nov 5 calls for the 7500 shares taken in at 5 and will look to write calls on the Dec expiration next week to spread out the trade.

    I liked the earnings story and thought it was a bit of an overeaction with the selloff.

    Still like the story here and will trade around it. Options can be closed early depending upon market conditions.

    Good Trading

    dealmakr

  3. dealmakr said

    Updated position XRX 10/22/11

    11/30/10 Sold 50 Dec 11 Put .16*
    11/30/10 Sold 30 Dec 11 Put .15*
    12/06/10 Bot 3000 XRX 11.74
    12/06/10 Sold 30 Apr 12 Call .82*
    12/31/10 Sold 25 Jul 9 Put .30*
    01/21/11 Sold 30 Feb 12 Call .12*
    01/27/11 Sold 30 Feb 11 Call .16*
    02/09/11 Sold open 30 Jul 12 Call .32*
    02/22/11 Bot 1500 XRX 11
    02/22/11 Sold 15 Apr 11 Call .46*
    02/23/11 Sold 25 Oct 9 Put .52*
    03/14/11 Sold 15 Oct 12 Call .40*
    03/16/11 Sold 15 Jul 11 Call .30*
    03/16/11 Sold 25 Oct 12 Call .30*
    03/22/11 Sold 15 May 11 Call .16*
    03/25/11 Bot 1500 XRX 10.68 (16020)
    04/11/11 Sold 20 Oct 12 Call .47*
    04/12/11 Sold 30 May 10 Put .14*
    05/06/11 Bot 1500 XRX 10.35 (15525)
    05/06/11 Sold 20 Jun 10 Put .23*
    05/23/11 Sold 30 Jul 11 Call .11*
    05/25/11 Sold 25 Jul 9 Put .16*
    06/08/11 Bot 1500 XRX 9.47 (14205)
    06/08/11 Sold 35 Oct 11 Call .17*
    06/29/11 Sold 25 Aug 9 Put .12*
    06/29/11 Sold 25 Jan 9 Put .52
    07/22/11 Sold 40 Sep 9 put .11*
    07/22/11 Sold 55 Sep 11 call .12*
    07/29/11 Sold 25 Oct 9 Put .40*
    07/29/11 Sold 25 Oct 10 Call .30*
    08/01/11 Sold 25 Oct 10 Call .21*
    08/02/11 Sold 20 Sep 9 put .40*
    08/05/11 Sold 25 Aug 8 Put .18*
    08/17/11 Sold 25 Sep 8 Put .24*
    08/17/11 Sold 25 Oct 8 Put .44*
    08/19/11 Sold 25 Oct 7 put .43*
    08/19/11 Bot 1500 XRX 7.51 (11265)
    10/03/11 Sold 25 Oct 7 Put .43*
    10/22/11 Bot 2500 XRX 8 (20000) exercise

    Closed Trades Profit/Loss

    12/18/10 Expired 80 Dec 11 Put 1250
    12/29/10 Dividend .0425 on 3000 shares 127.5
    01/21/11 Bot close 30 Apr 12 Call .28 1620
    02/13/11 Bot close 30 Feb 11 Call .13 90
    02/19/11 Expired 30 Feb 12 Call 360
    03/25/11 Bot close 15 Apr 11 Call .05 615
    03/25/11 Bot close 30 Jul 12 Call .14 540
    03/29/11 Dividend .0425 on 6000 shares 255
    04/11/11 Bot close 25 Jul 9 Put .13 425
    05/21/11 Expired 30 May 10 Put 420
    05/21/11 Expired 15 May 11 Call 240
    06/08/11 Bot close 45 Jul 11 call .03 645
    06/08/11 Bot close 20 Jun 10 Put .59 (900)
    06/28/11 Dividend .0425 on 9000 shares 382.5
    07/01/11 Bot close 25 Oct 9 Put .18 850
    07/15/11 Expired 25 Jul 9 Put 400
    07/22/11 Bot close 60 Oct 12 Call .07 1870
    08/02/11 Bot close 55 Sep 11 call .03 495
    08/05/11 Bot close 25 Aug 9 Put .70 (1450)
    08/19/11 Bot close 25 Aug 8 Put .53 (875)
    09/18/11 Bot close 60 Sep 9 Put 1.18 (5840)
    09/12/11 Bot close 25 Sep 8 Put .75 (1275)
    09/28/11 Dividend .0425 on 10500 shares 446.25
    10/19/11 Bot close 25 Oct 9 Put 1.39 (2175)
    10/22/11 Expired 50 Oct 7 Put 2150
    10/22/11 Expired 50 Oct 10 call 1275
    10/22/11 Expired 35 Oct 11 Call 595
    10/22/11 Exercised 25 Oct 8 Put 1100

    Total Return P/L on closed trades 3636.25

    Long 13000 XRX avg/share 9.9 (128735)

    Stock closed 10/21/11 7.83

    Short 25 Jan 9 Put 1300

    Net Position Exposure

    Naked Puts 2500 shares

    Bot back in the Oct 9 puts for a loss which was about covered by the expiration of the Oct 7 puts. Decided to take assignment on the Oct 8 puts with earnings coming up and the market showing a bit of strength and to reduce the DCA to under 10.

    After almost a year into this trade will be looking for an exit plan.

    Will look to write another round of CC’s after earnings on 10/27.

    This trade has been a loser and using naked put options has increased the losses when it broke down from 9.

    Good Trading

    dealmakr

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