[Options] Monthly Positions Review - September
September 3, 2021
- $IEF Long Sept 117 Calls: This one teased us a couple times with what looked like a couple attempts at a massive breakout. As least we were able to sell half of our position when it doubled on June 7. Since then $IEX has pretty much traded sideways and is currently trading right at our strike price. With the remaining premiums started to rapidly erode, we're exiting the remaining position here the credit we receive represents our total profits in the trade.
- $STX Long Sept 90 Calls: Basically the exact same story as above. Looked good for a bit, we sold half, and the stock has since gone sideways, currently right at our strike price. We're exiting here and booking the profit.
- $CVX Long Sept 110/115 Bull Call Spread: This position which we entered on Feb 17th was looking great in March and April. Since then, $CVX has languished and now our entire spread is out-of-the-money. But there's still some premium left to salvage here so we're taking it and closing the trade.
Positions adjusted in August:
- $MS Long February 110 calls: We were able to sell half of our calls at a double on 8/9. Now we're free-riding on the rest into February!
- $MWA Long Nov 17.50 calls: We were able to sell half of our calls at a double on 8/5. Now we're free-riding on the rest into November!
Positions exited for a win in August: $IT (8/3), $XLF (8/12), $USO (8/30), $XLE (8/11), $EEM (8/9)
Positions closed for a loss in August: $FB (8/31), $AEO (8/17)
If you have any questions on these trades, subscribers please send them here.
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