Portfolio Update

Mixed results today in the markets Monday. Dow and S&P ended down, while the NASDAQ ended slightly up. As far as my portfolio is concerned, the expected occurred. I got stopped out of two of my positions. But first I will mention my Covered Call on NG.

The Call option I sold on NG gained back value for me today because the value of the underling stock actually dropped below it's previous day's close. However, it still would cause me a loss if I were to buy it back right now. But let's repeat this again, it is very profitable for me already and I don't care if it gets called away from me tomorrow. I will let it continue to play out for the remaining 20+ days left in the contract. Lets see if it drops below $5 or remains above and gets assigned to me. Either would be fine by me. Now on to the straight Calls.

Although CVX ended up still in the green, because it started the day so far down, I was stopped out of my Call option for a little bit of a loss. Even so, CVX still ended lower than the last trading day with some downside still possible. In addition, the oscillations are getting narrower and the secondary indicators are suggesting that the stock is over-bought. This could be a significant pivot point.

Fortunately, I also have some really good news. I was stopped out of my DIS Call option with a nice 62+% gain. Not bad at all for 12 days. For the last few trades that actually gives me a percentage of about 17%. Not extraordinary, but definitely better than any savings account, Bond or CD.

My last post was a detailed prognostication of FPL. It looks like my Bearish prognostication is more likely to come true. I suspect that FPL will become $2 cheaper before moving back up. For that reason I will be setting up for a Put order on it for the next 20+ days. I also am placing a Put order against ETP with the suspicion that it will loose $3 in about the same amount of time. That is my opinion, you can take it or leave it.

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