October 21st, 2008 at 1:39 pm
Yesterday I sold 2 DSX Nov08 20 Covered Calls for a net deposit of $140.50 in an IRA account. My basis for DSX is now 32.46.
DSX has been a good dividend payer but the stock price has suffered with the slowdown in the world economy. I am waiting to see what the current quarter payout will be. As long as I don’t called away I think I will end up being okay with DSX in the long term.
October 17th, 2008 at 11:13 am
As I said earlier I was out of town and pretty much out of touch for a few days. During that time E*Trade issued me a margin call and then swooped in on 10/13/08 and did some trading for me. I had previously spoken to my E*Trade representative and given him my cell phone number but of course he lost it and could not contact me. So, with that background, here is what happened.
BTC 5 AUY Jan09 15 Puts at a cost of $4961.74 which represents a net cost of 2323.53.
BTC 2 WFC Oct08 30 Covered Calls at a cost of $279.49 which represents a net profit of 31.01.
BTC 4 AA Apr09 40 Puts at a cost of $10850.99 which represents a net cost of 6962.01.
BTC 4 MSFT Jan10 35 Covered Calls at a cost of $330.99 which represents a net profit of 814.00.
BTC 2 DSX Dec08 40 Puts at a cost of $5195.49 which represents a net cost of 2525.00.
Sold 200 WFC for $5789.97 which represents a profit of 679.97.
Sold 400 MSFT for $9803.95 which represents a lost of 784.05.
When all is said and done I didn’t feel too bad this time about their actions to satisfy my margin call when I could not be reached.
August 27th, 2008 at 7:21 pm
On 8/22/08, I sold 2 DSX Oct08 35 Covered Calls for a net deposit of $60.50 in an IRA account. My basis for these DSX shares is now 33.16.
DSX pays a good dividend, .91 in the most recent quarter and up each quarter from .58 four quarters ago. I would have preferred to have sold Sep08 calls but needed to go out to Oct08 this time to be able to get a reasonable premium for the 35 strike price. I intend to keep DSX as long as I can collect the dividends and option premiums.