Initial Transaction - Verizon (VZ) (11/16/2009)
on Nov 21, 2009 in Initial Transaction This is another position established with the proceeds from the sale of BMY and MCHP. This position is part of a strategy I call LTEX, which is a Long-Term Ex-Dividend Strategy vs. the STEX, or short-term ex-dividend strategy of which MCHP was an ex...

Initial Transaction - Gamestop (GME) (11/16/2009)
on Nov 21, 2009 in Initial Transaction On Monday I began to open new CC positions with the proceeds from the sale of BMY and MCHP. This position is one of the more risky positions in the CCIP for the fact that GME will announce earnings in a few days, which is part of the reason for the...

Closing Transaction - Microchip Technologies (MCHP) (11/13/2009)
on Nov 18, 2009 in Closing Transaction This position was another in my ex-dividend strategy, which involves creating an ITM covered call position in a company which has an ex-dividend date prior to the expiration date of the option. As planned, the position was called away the last tradin...

Closing Transaction - Bristol Myers Squibb (BMY) (11/13/2009)
on Nov 18, 2009 in Closing Transaction I decided to close this position early, as Bristol Myers was substantially above the $22 strike price of the CC. I had entered this position as a way to continue a similar annualized return to the position I had held in COP which was called away pre...

Update Transaction - Intrepid Potash (IPI)
on Nov 12, 2009 in Update Transaction As the market continues to think about which direction it wants to go in, the agricultural stocks decided to move higher. As a result I rolled forward my November call position in IPI to December as the stock continues to have pretty high premiums,...

Initial Transaction - Applied Materials (AMAT)
on Nov 11, 2009 in Initial Transaction Today I decided to open a second position in Applied Materials (AMAT). This position is a cash-secured put, which basically means that I have sold the right for someone to sell me 100 shares of AMAT at $13/share at December expiration, if the stock...

October 2009 Results
on Nov 6, 2009 in Monthly Performance The month of October was the second negative month for the CCIP. The overall market was essentially flat for the month, though the benchmark SPY ETF was down slightly. Premiums have stayed low, as the VIX has continued to stay pretty low throughout...

Update Transaction - United States Natural Gas (UNG)(3)
on Nov 6, 2009 in Update Transaction The information regarding this transaction is noted in the previous post on UNG from today. This position is now uncovered, and protected on the downside with a $9 put. The new profit/loss info is below:6/10/2009 -- Bought 100 UNG @ 14.506/10/2009...

Dividend - Intel (INTC) (11/4/2009)
on Nov 6, 2009 in Dividend Payment This is simply an update to the Intel position which notes the passing of the ex-dividend date. The new profit/loss info is below:10/21/2009 -- Bought 100 INTC @ 19.79510/21/2009 -- Sold To Open 1 INTC December $19 Call @ 1.1411/4/2009 -- Dividend @...

Update Transaction - United States Natural Gas (UNG)
on Nov 6, 2009 in Update Transaction As per the norm, UNG continues to drag down the CCIP at some points, and pull it up at others. UNG has plummeted from the $12 mark it was near at October expiration to near $9.50. As a result I decided to buy some December $9 put protection for all...