Portfolio Update: Another Lesson Learned

The past two trading day's since my last post were not that great. For starters, the first trading day since my last post was a slightly down day, and all of my position's suffered. This includes my CVX Call position, since it started that day lower and only slightly made it above the previous day's open. In addition, on that down day, my Covered Call on MU was executed. However, the order didn't execute as expected. Today, the second day, was only a slightly up day. This day returned some of my losses from the previous day's declines.

Now in this post I am only going to discuss my Covered Call order as my other positions are nothing new. I was hoping for a Bull day, but was disappointed as MU opened slightly higher and then rallied for 20 plus cents after a short slide, just to give it all back before noon. And then for the rest of the day it just sat at that level.

First thing in the morning, my order was executed and filled at the openings initial high prior to it's early morning slide. The more disappointing thing about the opening purchase was that the Call side of the order wasn't sold at the 5 cents per contract share I expected. It actually filled at 1 cent. This gives me $1 per contract. The sad thing is that the sum of the option's commission and fees is the same total. This means that the I was not able to off set the cost of the commission on the Stock side of the order. Lesson learned, wait for the option to have some value before selling it. That is my opinion, you can take it or leave it.

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