October 15, 2014
Buying 1 Nov 22′ $50 call on Halliburton (HAL) and and 1 Nov 22′ $55 call on Continental Resources (CLR) as a way to enter those stocks without risking any significant cash in the portfolio.
If the calls go up, great- I make a nice profit outright, or I get to exercise the option (either are good). But, if they go down, I don’t mind either because the prices I am paying for those calls are dirt cheap (since the market has fallen 10%), and I don’t lose much.
No one knowing what is going on is causing a shoot-first, ask questions later on type of mentality among traders. I am not panicking, I am holding strong. I might, however, liquidate my FCX & FAS positions to raise cash if needed.
I will take approximately a $1,000 loss on those positions, if so. This would not come as a big blow to me or the portfolio considering I am still up $4,000 for the year. However, it would have been nice to keep those hard-earned gains. Oh well, we can reload with better names going forward.-Todd Akin October 16, 2014
The market is running away from us today; I already missed buying UNP and BPT, both of which are up at least 6% today. Options would have killed there.
Anyway, our other options are working well but I would like to add another to the mix- Twitter (TWTR).
Buying 1 Nov 22′ $50 call on Twitter (TWTR) and revisiting Seagate, as well, with a Nov’22 $55 call. I will continue to look for more opportunities.-Todd Akin
Watch List For Tomorrow:
Oil & Gas Exploration & Production +2.71%
APA, APC, CHK, COG, COP, DNR, DVN, EOG, EQT, MRO, MUR, NBL, NFX, PXD, QEP, RRC, SWN, WPX
Oil & Gas Refining & Marketing +2.56%
VLO, TSO, MPC, PSX