Man, I was busy today! I don't know exactly why, maybe it's because I've been out of pocket the past few days. Either way I made some profitable moves early in the day!
And I made some more right before the close...
I went back to the well with DDD. Even though I believe we've got further to fall, I just can't bring myself to buying a put. Instead, I sold to open a June $55 call, collecting $81 of premium. My plan is to buy it back if the stock gets around the 47.50 range. However, if it turns and heads back above $55 by June expiration then I'll be out of my shares for a small profit. So it's a win, win.
On to XLNX... I set up this play back on 5/15. You can find the details here. Today I closed it out booking a $60 profit. Which is a 17% return on the capital I had tied up in the trade.
Look folks, I get it... these are small amounts of money. 60 bucks here, 80 bucks there, but it adds up. And this month it has added up! My realized gains for May are $629.05 which is 140% above the upper range of my target for this month. For more details on my monthly goals, annual realized gains and trade record, simply click here.
For all you people out there finding this blog for the time, I'm the Option Rider. I play with a wide open hand, for better or for worse! Please feel free to look through my open positions, my winners, AND my losers. Any advice, thoughts, comments or helpful tips are welcomed at email@example.com.
I'm just a regular guy who has had a little success as an option trader looking to get better!