Although it feels like investors/traders fear a market correction, I am often bullish. I try to ignore the bleak economic scenario often portrayed by the media and other sources as I believe the worst is behind us.
I use a high amount of leverage for my option writing, thereby placing my account at risk. Because my short puts consume almost all of my available margin, a market pullback has a large impact. When my available margin was negative, I either closed several option positions at a minimal cost or I chose to take no action and no consequences had resulted (other than a phone call from my broker). I continue to use margin as a means of creating wealth.
I currently have a total of 86 open option positions (81 puts, 5 calls); an amount significantly lower than it has been since January. My goal is to decrease it to a holding of approximately 50 positions by placing fewer long-term trades.
My current positions are listed below alphabetically under their expiration date. Premiums are the amounts of money I receive after commissions.
I report my total gains and losses incurred through option trading in my blog posts each month of my account activity.
Expiration - September 21, 2013
Date Position Premiums
07/24/13 10P CL $50 $117.50
01/23/13 1P CNR $90 $268.76
07/15/13. 2P CNR $100 $217.51
07/24/13 3P CVE $29 $133.26
07/22/13 4P EMA $32 $85.01
08/14/13 4P EMA $32 $265.01
07/24/13 10P GIS $45 $97.50
07/18/13 8C JNJ $92.50 $850.22 closed
07/22/13 3P KEY $52 $166.26
01/29/13 3P MCD $75 $118.26
05/15/13 4C MCD $110 $201.00
07/22/13 10P MCD $85 $117.50
07/22/13 10P PEP $75 $177.50
07/24/13 10P PG $67.50 $117.50
07/31/13 1P TD $84 $59.76
08/01/13 3P XOM $87.50 $166.25 closed
Expiration - October 18 , 2013
Date Position Premiums
02/19/13 1P BTE $40 $153.76
02/20/13 3C BTE $48 $226.26
08/19/13 25P CL $50 208.75
08/19/13 2P CNR $98 $277.51
02/19/13 3P CVE $26 $136.26
0704/13 10P ECA $17 $877.51
02/20/13 3P ENB $40 $180.00
08/19/13 20P GIS $41 $165.00
08/19/13 20P JNJ $70 $165.00
02/19/13 3P KEY $48 $166.26
08/19 /13 3P KEY $53 $136.26
08/14 /13 10P MCD $80 $87.50
02/19/13 5P PPL $27 $283.76
02/19/13 1P PEP $65 $66.75
08/13/13 25P PEP $67.50 $308.75
08/13/13 25P PG $65 $208.75
02/19/13 1P TD $74 $89.70
08/13/13 2P TD $80 $77.51
08/21/13 5C TD $90 $273.76
08/13/13 25P XOM $75 $183.75
02/19/13 1P XOM $75 $119.75
07/22/13 3C XOM $100 $112.25
Expiration - November 16, 2013
Date Position Premiums
07/18/13 6P EMA $30 $312.51
08//13/13 3P XOM $85 $592.24
Expiration - January 18, 2014
Date Position Premiums
12/05/11 3P BCE $32 $436.26
05/30/11 1P BMO $58 $703.80
06/01/11 1P BNS $54 $618.80
05/23/12 2P CL $32.50 $228.75
08/04/12 1P CNR $66 $719.25
06/20/12 3P CVE $28 $1,051.26
04/19/13 3P ENB $36 $121.26
10/12/11 1P GIS $40 $618.74
05/31/11 2P HSE $26 $537.55
06/05/12 1P JNJ $35 $73.75
07/29/13 8C JNJ $95 $1,743.80
05/23/13 3P KEY $58 $616.26
04/24/12 6P KO $25 $346.25
04/19/12 3P MCD $50 $319.25
04/17/12 10P MFC $8 $627.51
06/05/12 1P PEP $35 $68.75
02/10/12 1P PEP $50 $278.75
05/31/13 4P PPL $30 $365.01
06/06/12 1P RY $52 $578.80
05/26/11 1P RY $56 $638.80
06/07/12 6P SBUX $25 $642.49
12/05/11 3P SC $34 $661.26
09/20/11 5P SU $30 $3,233.76
06/13/12 1P T $23 $89.75
12/06/12 1P TD $70 $258.76
09/09/11 5P TRP $34 $1,208.76
02/04/13 1P YUM $50 $168.75
04/26/12 1P XOM $60 $303.75
Expiration - January 17, 2015
Date Position Premiums
10/15/12 2P CL $45 $708.74
08/15/12 1P CNR $84 $958.76
06/20/12 3P CVE $28 $1,516.26
05/22/12 3P ENB $36 $1,021.26
09/26/12 3P GIS $30 $511.24
05/22/12 1P HSE $21 $333.76
09/26/12 1P JNJ $60 $428.75
11/15/12 1P MCD $60 $283.75
09/26/12 1P PEP $60 $478.74
09/26/12 5P SBUX $30 $1,133.73
05/24/12 3P SLF $19 $1,306.26
05/22/12 1P TD $74 $1,163.76
12/17/12 3P TRP $38 $616.26
11/30/12 1P YUM $50 $448.74
09/26/12 1P XOM $70 $514.74
Expiration - January 16, 2016
Date Position Premiums
05/21/13 3P CVE $28 $1,231.26
05/21/13 2P ENB $44 $717.51
05/21/13 1P TD $78 $918.76
Ticker Symbols
BMO - Bank of Montreal (TSX)
BNS - Bank of Nova Scotia (TSX)
BTE - Baytex Energy (TSX)
CL - Colgate-Palmolive
CVE - Cenovus Energy (TSX)
CNR - Canadian National Railway (TXS)
ECA - Encana Corporation (TSX)
EMA - Emera Inc (TSX)
ENB - Enbridge Inc (TSX)
GIS - General Mills
HSE - Husky Energy Inc (TSX)
JNJ - Johnson & Johnson
KEY - Keyera Corp (TSX)
KO - Coco-Cola
MCD - McDonalds Corp
MFC - Manulife Financial (TSX)
PEP - Pepsico
PPL - Pembina Pipelines (TSX)
RY - Royal Bank (TSX)
SBUX - Starbucks
SC - Shoppers Drug Mart (TSX)
SLF - Sun Life Financial (TXS)
SU - Suncor Energy (TSX)
T - AT&T
TD - Toronto Dominion Bank (TSX)
TRP - TransCanada Corp (TSX)
YUM - Yum Brands
XOM - Exxon Mobil Corporation
XOP - Oil and Gas Exploration ETF
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