Buy 5 BHP March 9.49 Calls @ 0.05

That represents $0.17 x 5265 to close out the position. As these are covered calls I own 5625 BHP against which I write these calls. Since doing this BHP has gone from $9.95 to close today at $8.93 so it’s fallen $1.02 (my average buy price was below $9.95). In the same time I’ve earned …

BHPEL down to 0.075

OK, it appears that I have wondered from my trading strategy and am trading on emotion. Yes it is good to take insurance — in my case I did that by buying BHPEL back at 0.105 yesterday to close out my position. I didn’t expect BHP to hit $9.49. For the record I don’t think …

Buy 5 BHP Feb 9.49 Calls

I bought them back at 0.105 (0.005 profit) to close out the position. That makes it my worst option trade to date. I’m out $230 in commissions. Something is going on with BHP and I have no idea. Neither does my broker. I could hold on, if BHP hits $9.49 I get exercised and pay …

Write 5 BHP Feb 9.49 Calls

OK after some needling I’ll blog when I do an option trade as well. Basically all I’ve done since November 2002 is write covered calls on my BHP holding. The deals were 5 December 10.21 BHP Call options Each contract is 1053 shares so 5 = 5265 shares Premium received $0.30 x 5265 bought them …

Sell 920 NCP @ 10.85

NCP opened at 10.90 (up 0.32) and slid down to 10.79 at midday. The entire portfolio is in profit. But I don’t think things have bottomed yet. So I decided to sell half the NCP holding at a close to high price of 10.85 at 3:00pm. I am overweight NCP and that exceeds the 3% …

Buy 5745 ALZ @ 1.40

ALZ is Australand. They are property developers. At a Freestyler Network meeting in late July, I was told ALZ paid a 3c fully franked quarterly dividend (ex-div 9-Aug) and the stock was around $1.40. Downside analysis should it become a long term hold: An annualised 8.57% yield before franking credits. My overall portfolio is underweight …