Wednesday, November 9, 2011

11/9 Covered Calls

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 has fallen below the floor of an uptrending channel that began Oct. 4.

FCX is trading within 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 trading sideways below the floor of an uptrend channel that began Oct. 4. I won’t know if the channel should be adjusted until the price either resumes its rise or begins to fall.

RIMM is trading below a sideways trend that began Oct. 6.

SLV is trading within a rising channel that began Sept. 26.

XLF has pierced the floor of an uptrending channel that began Oct. 4.

XOP is trading within an uptrend that began Oct. 4.

Monthly Positions
expiration Nov. 19

symentrystrikepremium
BIDU 144.16 145 6.05
DFS 23.60 21 2.92
EWZ 59.34 55 5.20
FCX 43.08 32 11.20
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. 11

symentrystrikepremium
LVS 48.87 47 0.99

Idle Positions
expiration Nov. 19

symentrystrikepremium
GMCR 111.77 x  

Note: "x" in the strike column means no call has been sold against the shares.

Other Base Positions

  • 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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