Closed Trade today: I made a closing purchase of my short DEC19 85-strike CALLs today at 0.06 ($60.00). I sold on them on 17 SEP2019 for 0.19 ($190), so the profit is +$130 per option. Click this bar to see the trade origination:
The jest of the story is that will Iranian oil back on the world market due to Chinese purchases continuing “could drop” oil prices with this supply increase.
As I mentioned in my comments yesterday, I am shopping to sell FEB20 Crude Oil CALL options soon and possibly the PUTS also to form short strangles.
Summary of positions after today’s trade:
Only one position, my short DEC19 short 420-strike CALLs, see:
That is all today. Thank you – Don
Don A. Singletary
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When new subscribers ask me to recommend a broker that has very easy-to-learn and easy-to-use software (free of course) and a good commission rate, I recommend TastyWorks. I have some of my personal accounts there. They also have a low 85 cents commission rate on the new Micro Index Futures; this is only $2.42 INCLUDING ALL FEES / ROUND TRIP .
TastyWorks: $2,000 minimum to open account. Easy online application, free ACH money transfers. Here’s my affiliate link forTASTYWORKS.International Accounts for 70 countries available.
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The commentary and examples are for teaching purposes only and are not intended to be a trading or trade advisory service. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein on the web site and/or newsletter, are committed at your own risk, financial or otherwise. Trading with leverage could lead to greater loss than your initial deposit. Trade at your own risk. Investors and traders are responsible for their own investment/trading decisions including entries, exits, position, sizing and use of stops or lack thereof. This is not a trade advisory service and is for educational purposes only. The content on the pages here is believed to be reliable - but we cannot guarantee it.
Don A. Singletary is a teacher and writer. For 25 years he was a commodity risk management (hedge) consultant for major corporations. He is the author of Option Income Training Bulletin, the only such publication dedicated to teaching small/medium personal investors how to sell commodity options for a second income, a strategy traditionally used mostly by professional investors, the wealthy, and money managers.
While this website is for subscribers only, you can get full access with a free trial subscription. Also you may visit his blog with many trade examples and articles on this valuable strategy at: SellingCommodityOptions.com
Greetings: WEDNESDAY 25 September 2019
Closed Trade today: I made a closing purchase of my short DEC19 85-strike CALLs today at 0.06 ($60.00). I sold on them on 17 SEP2019 for 0.19 ($190), so the profit is +$130 per option. Click this bar to see the trade origination:
Comment: WEDNESDAY 25 SEP 2019:
DEC19 Crude Oil near $55.43 -1.21 this morning. This drop in price today has been due to reasons cited in this CNBC news story: (If China continues to buy oil from Iran.) story here: https://www.cnbc.com/2019/08/05/brent-and-wti-price-could-crash-if-china-buys-iranian-oil.html
The jest of the story is that will Iranian oil back on the world market due to Chinese purchases continuing “could drop” oil prices with this supply increase.
As I mentioned in my comments yesterday, I am shopping to sell FEB20 Crude Oil CALL options soon and possibly the PUTS also to form short strangles.
Summary of positions after today’s trade:
Only one position, my short DEC19 short 420-strike CALLs, see:
That is all today. Thank you – Don
When new subscribers ask me to recommend a broker that has very easy-to-learn and easy-to-use software (free of course) and a good commission rate, I recommend TastyWorks. I have some of my personal accounts there. They also have a low 85 cents commission rate on the new Micro Index Futures; this is only $2.42 INCLUDING ALL FEES / ROUND TRIP .
TastyWorks: $2,000 minimum to open account. Easy online application, free ACH money transfers. Here’s my affiliate link for TASTYWORKS. International Accounts for 70 countries available.
***************
The commentary and examples are for teaching purposes only and are not intended to be a trading or trade advisory service. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein on the web site and/or newsletter, are committed at your own risk, financial or otherwise. Trading with leverage could lead to greater loss than your initial deposit. Trade at your own risk. Investors and traders are responsible for their own investment/trading decisions including entries, exits, position, sizing and use of stops or lack thereof. This is not a trade advisory service and is for educational purposes only. The content on the pages here is believed to be reliable - but we cannot guarantee it.