I sold my first ever option! 1 contract, covered call on SSO.
Jan’09 with strike $23. Got $4.10 for it, which means I net $212.05 after commission.
Questrade options commissions are $9.95 + $1 per contract.
If SSO is above $23 in January, my shares will be called out. If not – I keep them. I want them to get called out, but won’t worry either way.
That was partly my intention in buying SSO – to try options. Just 100 shares, not expensive, but somewhat liquid.
Bought (SSO: 49.89 -0.64%) afterhours @ $24.87. Very little, 1/4 of my normal SSO position. Mainly as a hedge, to counterbalance my shorts and in case we take a stab at the 50ma on SPX.
Holding 3 shorts and 2 longs, $ ratio about 10:1!
(HUN: 12.7925 -3.23%) Huntsman Corporation, long @ $3.01
HUN engages in the manufacture and marketing of differentiated chemical and inorganic chemical products under four segments: Polyurethanes, Materials and Effects, Performance Products, and Pigments.
Special case. Projected target price $8.00 in near term.
The chart:
Click to enlarge
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