Retirement Income

Stocks and Options

November 2nd, 2008 at 2:38 pm

BP plc (ADR) (BP) - Sold Nov08 Calls

I sold 4 BP Nov08 55 Covered Calls on 10/21/08 for a net deposit of $309.00 in an IRA account.  My basis for these BP shares is now 64.78.

BP is a good dividend payer at 6.78% and .84 last quarter.  It also has a pretty good option premium.  Even with the current price of oil way down I am still positive about oil’s long term value.  As best I can tell they are not making any more of it.  :-)  That just has to be good for it’s long term outlook.

I also own another 100 shares in addition to these 400 in the same IRA account with a Jan09 70 Covered Call outstanding.

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August 27th, 2008 at 6:53 pm

BP plc (BP) - Sold Sep08 Calls

On 8/22/08, I sold 2 BP Sep08 65 Covered Calls for a net deposit of $160.50 in an IRA account.  My basis for these BP shares is now 59.65. 

I also own 300 additional BP shares in the same IRA account.  BP pays a good dividend and a rising dividend, .84 in the prior quarter from .6495 four quarters ago.  Not only does it pay a good dividend, it also has pretty good option premiums.  I consider BP, as a representative of the petroleum segment, a core holding.

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August 17th, 2008 at 8:43 pm

Aug08 Options Results

Here are the results for the options that I still had outstanding when the markets closed on Friday, 8/15/08.  I had four Put assignments and 22 Calls across multiple accounts that expired allowing me to keep all of the option premium.  The 22 Calls are summarized by stock across accounts resulting in 16 stocks being represented in the following list.  I will begin to sell Calls on these stocks starting tomorrow.

Stock Symbol Option Symbol Call/Put Bought / Sold Strike
 Price
Number of
Contracts
Result
AUY AUYHC Call Sold 15.00 10 Expired
BA BATM Put Sold 65.00 2 Assigned
BAC BACHG Call Sold 35.00 2 Expired
BP BPHM Call Sold 65.00 2 Expired
CCJ CCJHH Call Sold 40.00 2 Expired
DIVX QDWHB Call Sold 10.00 2 Expired
DSX DSXHG Call Sold 35.00 2 Expired
FNM NJWTJ Put Sold 10.00 4 Assigned
FRE FRETB Put Sold 10.00 2 Assigned
FRE FREHB Call Sold 10.00 2 Expired
GGC GGCHA Call Sold 5.00 11 Expired
GM GMHC Call Sold 15.00 12 Expired
GOL GOLHC Call Sold 15.00 2 Expired
LEH LYHHE Call Sold 25.00 2 Expired
MO MOHM Call Sold 22.00 2 Expired
PDS PDSTX Put Sold 22.50 2 Assigned
S SHB Call Sold 10.00 3 Expired
TIE TIEHC Call Sold 15.00 2 Expired
VCLK QCSHW Call Sold 17.50 2 Expired
YHOO YHQHE Call Sold 25.00 4 Expired

 

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