Well, I tend to go over board. I said I wasn’t going to go H.A.M.F. and i did anyway. I was playing with the PCSs and CCSs (Call Credit Spreads) and now I am so confused about what I paid foe and what was credited to me, I just have no idea. So Let’s start with what I have learned. 4 to 6 weeks out is where these things need to be. I need to slow my roll with spreads, initiating trades is okay, I can still do that whenever I get a chance but moving them needs to be done very carefully and in front of the computer. I handled them so badly I had to wipe their income off my spreadsheet cause I just don’t know what kind of profits or losses I have with them. That being said hopefully I learned my lesson and moving forward I can be better at these.
So lets talk about where the Taxable account is right now, and I’m just going to go down the list. EPD covered call at $22.5. Currently its sitting ITM and that will be nice if it stays there. I have a $386/$387 CCS on SPY set to expire Monday (yes Monday). That I know for sure gave me $9 and its the only one I am really sure about. On SBUX I have a $106/$107 CCS set to expire 3/12. On MSFT I have a $227.5/$225 PCS that expires 3/19. And on HD I have a $255/$252.5 PCS that expires on 4/19. I think I am up somewhere around $68.9 based on the cash value tied up in these, and my current available cash, but I have no idea how that is divided among them. So this week will be adjusted on my spreadsheet to show options income of $68.9 this week, but the lines on the individual assets income will be blank. In other news it was paycheck Friday and that means $400 was added to the Taxable account. That brings the total added so far this year up to $845 (16.9%) of my $5,000 goal. It seems low, but with only a maintenance amount going to General Savings now that I hit it’s goal for the year more money can be committed to the Taxable.
Moving on to the now much simpler Options IRA, PFE’s $34 CC is currently sitting ITM, that will free up some capital. IBM was on a tear this week, its currently up over $122 so I rolled its 3/12 Strike back out to 4/9 and gained $79.7 for that. Now I am going to let that sit for awhile at that price, because I am at a point where the trade is profitable, and I’d just like to be rid of it. At the beginning of April I’ll check into rolling it again. That extra $79.7 brought up my weekly options income to $166.10 for the week. And finally, HPQ is well below its strike price, it will be rolled next week., but the good news on that is HPQ has its ex-dividend next week so it would have been up for a buy anyway.
Wrapping things up with the Rollover IRA, CSX and WBA are going to be rolled, both are well under their strike prices. IBM is currently ITM and in this account it also has some growth in it as well. I am not even sad to see IBM go, I am just tired of looking at it week after week.
That’s all I got, aside from trying to run my Taxable account into the ground this week has went pretty smooth. I am hopefully going to get time to do another stock pick this weekend, let everyone know what I’ll be looking at for Monday and just what is happening on my list of stocks in general.
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