A profitable journal with all entries/exits posted in advance

4/29:

QLD: $2,012.00
Feb 15 option proceeds: $58.50
USLV: $164.65
------------
$2,235.15

 

What are your targets for your open positions?

 

4/30:

QLD: $2,188
Feb 15 option proceeds: $58.50
USLV: $144.30
------------
$2,390.80

 

5/1/2013:

QLD: $2,080
Feb 15 option proceeds: $58.50
USLV: -$24.05
------------
$2,114.45

Next add position for USLV is probably going to be around $9.00

 

Would sell ITM calls if there was more time premium built in. They seem undervalued.

A $60 May call would bring in about $1,070 but if price fell to $60 I would give up $1,080 so they're not a good deal.

Why isn't there more time premium in QLD options? The ones near the money are decent but the ITM ones suck.

 

5/2/2013:

QLD: $2,396
Feb 15 option proceeds: $58.50
USLV: $12.95
------------
$2,467.45

 

123 ,perhaps you overlooked

 

I'm thinking about selling QLD today. Will post here and Twitter before I do anything.

 

Exiting QLD with a market order.

 

Out at $67.00.

edit - typo.

$66.97 after commissions.

Net QLD profit: $2,732.

USLV position still open.