I established 6 new CSP positions today. AVP & LOW declined today providing an opportunity to sell CSP's at my target buy price, which is about 30% below my fair value estimate.
Since I was holding over 78% in cash, I decided to sell some deep OTM CSP's on TLT for May expiration. TLT hasn't closed below $88 in several years so I sold 4 different strikes at $85, $86, $87, & $88. With the market overvalued, by the metrics I follow, if there's a correction, TLT should rise as investors flee to the safety of US Treasuries. If that occurs, these puts should expire in May, and free up the cash to pick up any new opportunities that arise.
As a result of today's trades, I'm currently 54% invested and 46% in cash, with 14 open positions, 4 CC positions and 10 CSP positions.
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This blog will serve as a trading journal to track my options portfolio. Trade information will be posted weekly, including new positions, adjusted positions, and closed positions. The information presented here is for educational purposes only. Under no circumstances does this information represent a recommendation to buy or sell any stocks or options. If you choose to use this information, you do so at your own risk.
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About Me
- CCWriter
- I've been investing in the stock market for 30+ years. I started out like most investors with mutual funds, then progressed to individual stocks, and finally options trading, using Covered Calls and Cash Secured Puts as my primary strategies. I started this blog in 2006 to track my options trades and also started a discussion group, first hosted at Yahoo, and now at Groups.io, to help others who were interested in trading Covered Calls and Cash Secured Puts. I hope the information provided in this blog, and the accompanying discussion group, is helpful. If you're interested in learning more, please join the discussion group at the top of this page. We have many members who are always willing to help.
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Disclaimer:
The information presented here is for educational purposes only. Under no circumstances does this information represent a recommendation to buy or sell any stocks or options. If you choose to use this information, you do so at your own risk.