This daily posting tracks my covered call plays for November and other base positions.
Covered Calls| sym | phase | trend | adx | 200/50 | 40/10 | |
|---|---|---|---|---|---|---|
| BIDU | ||||||
| DFS | ||||||
| EWZ | ||||||
| FCX | ||||||
| GMCR | ||||||
| HAL | ||||||
| LVS | ||||||
| NLY | ||||||
| RIMM | ||||||
| SLV | ||||||
| XLF | ||||||
| XOP |
Technical:
BIDU is trading within an uptrending channel that began Sept. 30.
DFS has been tracing a large symmetrical triangle -- a continuation pattern -- since its high on July 7.
EWZ is trading within an uptrending channel that began Oct. 4.
FCX pierced the floor of an uptrending channel that began Oct. 4 and then retreated back within the channel.
GMCR is trading within a downtrend channel that began Sept. 20. A relative strength index bullish counter-trend pattern confirmed Friday remains valid.
HAL gapped below the floor of an uptrending channel that began Oct. 4.
LVS is trading within a sideways trend that began in late March.
NLY, having broken out of a sideways trend and above its 20-day high, is best seen as climbing a channel that began Oct. 4.
RIMM has broken below a sideways trend that began Oct. 6.
SLV is a bit sloppy on the chart, but perhaps can best be analyzed as trading within a rising channel that began Sept. 26.
XLF gapped sharply below an uptrend that began Oct. 4.
XOP gapped sharply downward, approaching a Fibonacci 38.2% retracement of the rise that began Oct. 4.
Positions:
| sym | entry | strike | premium |
|---|---|---|---|
| BIDU | 144.16 | 145 | 6.05 |
| DFS | 23.60 | 21 | 2.92 |
| EWZ | 59.34 | 55 | 5.20 |
| FCX | 43.08 | 32 | 11.20 |
| GMCR | 111.77 | x | |
| HAL | 38.79 | 29 | 9.78 |
| LVS | 48.87 | 50 | 0.69 |
| NLY | 17.96 | 16 | 0.52 |
| RIMM | 23.33 | 21 | 2.96 |
| SLV | 30.76 | 28 | 2.96 |
| XLF | 13.14 | 12 | 1.33 |
| XOP | 53.22 | 48 | 6.35 |
Note: “x” in the strike column means no call has been sold against the shares.
Other Base Positions
- None.
Key
- phase: 20-day price channel phase, with green for bull trend, red for bear trend and yellow for neutral trend.
- trend: Price direction, green for higher highs and higher lows, red for lower highs and lower lows, yellow for sideways, and grey for neutral or ambiguous.
- adx: Average directional index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 25 and up but below 40, magenta (light purple) for 20 and up but below 25, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, magenta for sunset on the horizon and brown for the earth.)
- 200/50: The moving average cross, green for the 50-day ma above the 200, red for below and yellow for closely aligned.
- 40/10: The moving average cross, green for the 10-day ma above the 40, red for below and yellow for closely aligned.
About my trading methods
Read a detailed explanation of my analysis method, including trading rules. These don't, at present, discuss my covered call strategy, which is under revision.
Disclaimer
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
The trader’s greatest sin is inaction. Sleeper, awake! Seize the Nietzchean moment. Roll out of bed and trade.
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