Week 1 Overall $504, Prem RCVD $1084 1.3%

Posted: February 11, 2012 in Trades
Tags: , , , ,

This being my first post, Ill just recap my reasoning for creating this blog and a little bit about my experiance and my current holdings.  I am a Section Chief in the US Army, and will be retiring in a couple of years.  Army pay has never and will never provide me with the financial stablity long term that I desire. I began educating my self in the investing basics back in 2007, so I am a newbie still, with alot yet to learn, but I have been, from books and mistakes throughout the years.  My goal is not to make the one big play and get rich from it, but rather generate income to grow my portfolio and provide a better life in the future for my family.  I have gone through a few different investment strategies over the years, from Day trading with Tim Sykes, which does work quite well if you have the time throughout the day, then to my second favorite Dividend Investing in value and growth stocks, mainly the blue chips, RIET’s, and MLP’s.  This strategy was very profitable for me, but doesnt fit into what I like to do as it is a long term non-active investors strategy and I like to have my finger on the pulse of the market.  Covered calls(C2) I have been researching for about 6 months and have been trading options for just over a year.  I began my C2 Investing this week and decided a blog may be a way for me to be more acountable for my actions.  So here is my actions for this week, they were not perfect and mistakes were made and I will talk about them later.  

  • Bought 100 ONTY
    • Sold 1 17Feb12 9.0 Call ($64)
    • Sold 1 16Mar12 9.0 Call($204)  
        • Dangerous Naked Call, I dont see a catylist but this is a mistake and could cost me.
      • Total Income ONTY $268
  • Bought 100 ZNGA
    • Sold 1 17Feb12 14.0 Call ($60)
    • Sold 1 16Mar12 14.0 Call ($114)
        • Dangerous Naked Call, with earning coming up this is Bad, I will watch this one closely
      • Total Income ZNGA $174
  • Bought 100 VVUS
    • Sold 5 17Feb12 15.0 Call ($100) 4 Naked Call not concerned about it rising before exp.
    • Sold 1 16Mar12 13.0 Call ($268)
      • Total Income VVUS $368
  • GLD had 200 shares in LT Portfolio
    • Sold 1 18May12 170.0 Call ($414)
      • BTC 18May12 170.0 Call (-$485) 
          • Net loss $71  Decided it would be more profitable to trade weeklys, Bad plan management.
    • Sold 1 10Feb12 170.0 Call ($52)
      • Expired OTM 10Feb12 170.0 Call
    • Sold 1 17 Feb12 171.0 Call ($128)
    • Sold 1 17Feb12 169.0 Call ($81)
      • Total Income GLD $209 w/ $52 Fully realized
  • Total Income including other LT holding with some C2 not mentioned and dont really need to be, but can be viewed in my portfolio in the following link.    C2 Portfolio

This site is a work in progress and will most likely be updated on the weekends only and I am a working and family man. Good Luck and remember I have researched these stocks and option and these are not recomendations to buy and they carry risk.  Invest at your own risk. and Good luck


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