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Having a simple excel spreadsheet of all open trades would be helpful to many and not too difficult to keep up. At least that is what I do for myself and update it when ever at trade is made or option expires. After a option position is closed I add it to the “closed file” by stock, which I may review at any time, but which I seldom do. I imagine most traders do the same thing. Teddi’s list of running trades seems much more difficult, so probably not worth the time to keep up. Personally, I would be more interested in the technical analysis side of a trades, that is, what do you see that convinces you to enter a trade, other than its floor or ceiling position on a chart. Or is that all there is too it? Because sometimes in the stock chosen for “Tomorrows Trade”, I never would have chosen, but it works out.
Thanks for your comments, I could not agree more!
Your analysis is amazing! From where do you download this information, and to where? To a spreadsheet to to something else?, if so, it must be huge. Thanks for your work on this!
Ken
Tikigod: From your post regarding T sold at $31.50, it seems as though a Put was sold. I have been told a put could not be sold in an IRA account.
On June 26th when DD was at $65.92 I sold puts for 8/21 expiration, strike at $65.00, premium earned was $1.75. I received 1 share of CC for every 5 shares of DD owned. It looks like CC opened at $16, so it seems DD before the split was valued at $8o ($16 x 5). So it seems DD after the split was valued at $64 ($80-$16). However, according to my broker person, I still have puts on DD with a strike of $65, since it closed on Thursday at $59.99 I may have to roll down if I don’t want assignment. So, I sold my shares of CC at $16.49 to help offset a loss in the roll down. Apparently my experience was different from yours as I didn’t get any CC puts. I my humble opinion I think DD will climb back up as it was over $75 earlier this year. Since we both have some time, I would be in no hurry to roll down.
Hello Jake and Pablo: In Jake’s example, he is right, the buyer of the stock and call didn’t make any profit, but he expected the price of the stock to rise by the expiration date, but it did not, so he lost out. The take away for me from Teddi’s article was that if you are assigned a stock and you want to get out of it soon, then sell a call in the money and collect the premium. But don’t forget about the dividend to calculate whether or not you are likely to get exercised out of the stock. It just seems to me pointless to actually look for these types of trades, but take advantage of them when they present themselves.
As a clarification of my previous post – I meant parallel paper trades on TDA.
I have been thinking the same thing. I use a full service broker, but because I run quite few trades through them they have cut a bargain rate for me, but still not as good as TDA. The site just seems unnecessarily complicated. So, I plan to run parallel trades until I get it figured out and gain confidence with it. Does TDA been track of your cost basis? What about year end tax reports?
WI have owned TEVA for years, but until the last several months it has been a disappointment with not much appreciation in the stock price. However, I have sold calls often, generally at the $60 price. I do not want to own more, so I have relucktant to sell Puts.