This daily posting tracks my covered call plays for November and other base positions.
The entry price for LVS in the Weeklys section has been corrected to $47.22.
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 rising just below 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 sideways below an uptrending channel that began Oct. 4.
FCX is trading sideways below an uptrending channel that began Oct. 4.
GMCR is trading within a downtrend channel that began Sept. 20.
HAL is trading within an uptrending channel that began Oct. 4.
LVS is trading within a sideways trend that began in late March, and also within an uptrending channel that began Oct. 4.
NLY is ambiguous and best described as trading within a sideways channel that began Nov. 2.
RIMM is trading at the floor of a sideways trend that began Oct. 6.
SLV is trading within a rising channel that began Sept. 26.
XLF is trading sideways below an uptrending channel that began Oct. 4.
XOP is trading sideways below an uptrend that began Oct. 4.
Regarding those stocks trading sideways below their channels, I won’t know if a channel should be adjusted until the price either resumes its rise or begins to fall.
Monthly Positions
expiration Nov. 19
| 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 | 42 | 1.69 |
| HAL | 38.79 | 29 | 9.78 |
| 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 |
Weekly Positions
expiration Nov. 19
| sym | entry | strike | premium |
|---|---|---|---|
| LVS | 47.22 | 47 | 1.06 |
Other Base Positions
- Long shares: CBM, PCCC, PKOH, TAST.
- Bull put spread: GMCR.
- Bear call spreads: FFIV, NUAN, NWL.
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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