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Currently browsing posts found in May2008


Sold Bank of America Ord Shs (BAC) Jan08 Calls

May 28th, 2008 at 5:56 pm » Comments (0)

This morning I sold 2 BAC Jan08 35 Covered Calls for a net deposit of $108.50 in an IRA account.
This represents an annualized return of 25.79% on my current basis.  Of course my current basis is 46.47 so I do not want this called away at this price.  I’ve been watching BAC since the May08 [...]



Sold GENERAL MOTORS (GM) Jul08 Puts

May 28th, 2008 at 5:30 pm » Comments (0)

This morning I sold 6 GM Jul08 12.50 Puts for a net deposit of $143.50 in my taxable account.  This represents an annualized return of 13.50% on the potential purchase of the stock.
I just couldn’t watch GM at this level anymore without getting further exposed.  I have to look back to sometime in 1989 (split [...]



Rolled out Diana Shipping Inc. (DSX) Jun08 Puts

May 27th, 2008 at 11:20 am » Comments (0)

I BTC 2 DSX Jun08 40 Puts and STO 2 DSX Sep08 40 Puts for a net deposit of $281.01 in my taxable account.
 I debated whether or not to roll these out.  DSX pays a good dividend, currently 10.09%, and has been raising it each quarter this year.  If assigned DSX in Jun08 I would [...]