Sold December 40 USO calls at 1.60 this morning to cover my long USO position. My breakeven on this investment is 38.07.
Nice 1.5% bump in XLY (consumer sector) this morning--sold December 29 XLY calls at .75 to cover my long position.
Showing posts with label USO Oil covered calls. Show all posts
Showing posts with label USO Oil covered calls. Show all posts
Monday, November 23, 2009
Wednesday, November 04, 2009
USO Covered Call -- Hedging the price at the pump
There aren't many opportunities to hedge our market positions with our personal finances. It's nice that if I bet wrong going long on USO, that I will be paying less at the pump the next time I fill up, and if I'm right I've more than recouped the extra cost.
Doubled up on oil, buying USO at 40.97 and sold-to-open Nov 41 calls at 1.30 for a net investment of 39.67. I did sequential market orders because I have not been getting quick fills on combo orders on USO.
Doubled up on oil, buying USO at 40.97 and sold-to-open Nov 41 calls at 1.30 for a net investment of 39.67. I did sequential market orders because I have not been getting quick fills on combo orders on USO.
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