This is one of those time that if I had followed my own advise about the market, I could have made more profits — from the credit rating downgrade on France “the F bomb”, plus the death of the North Korean leader Kim Jong Il. Oil market fell as a result (what about? North Korea – always manages to boost oil market with the nuclear threat). Not to worry, it was not a massive amount I missed out on, just thinking I could have been shopping more 🙂 .
Anyway, I booked flights to go overseas Thursday night, and decided for my own mental health, I’d just close my active trades and concentrate on getting organized before few days before the holidays and the trip. I’ll be travelling with my entourage (3 kids and their respective teddies!) end of the month to visit my folks overseas.
Alright, what did I miss out on. My covered call STOL57 for which I received 79cents. I bought back last Friday for 30c. But today, my oil stock STO had moved down 47c and premium is now just 15cents. I could have made 64cents a share – that’s if I had a 15c as a 1R (this is my usual risk for covered calls) – it would have been a 4.26R Trade (.79-.15=.64/.15 = 4.26 but anyway, the real score for my trade is 3.26R and I am happy with that. Really. 3R was the target and target was reached.
Catching up with family affairs and preparing for next year. As would all others. So trading for this week, will likely be thin. It will be volatile (lots of ups and downs). So my friendly reminder, stick to your plan.
