options

[selkirk]

thought would list some of the options I have currently out, the good, the bad and the ugly.

will list the US options first, the cdn. options are 3 pages long so will highlight some later.

Sept. 40 BAM +4 BIP Calls half covered, half naked.

I own BAM, and used to do options in cdn. however montreal does not list them anymore, so did these in the US, got 1.25-1.50.

since then BAM has gone down to 31, still a good company mainly real estate and infrastructure. though do not believe it will do much until sept.
I still have a loss on bam, (bam.a toronto), really like BIP though this may get cheaper, was a spinoff of bam.

HD aug. 32.50 calls covered
HD aug 35 calls uncovered

okay I wrote puts on HD and had the stock put to me, so I sold these calls, half are uncovered, got 1-1.25. at one time thougt would lose the stock as it made a run to 30.

now at 22, have the stock. probably should just kill the stock, have a loss on it. though the options have helped.... not sure why I did not put and keep a 15% stop, whch have on most holdings.

in the future will either sell it, or write more calls to the ones above though at lowever levels, dollar cost is at 27.50. after the options and divs.

MCD sept 50 p
for this put got 1.25. would have to buy mcd at 50, have a small postiion which has done well.

these puts have worked out well, as sold 36, 40, 42, 44, 46, MCD is a hold at these levels, like the option though.

WFC 25 july put
WFC 25 july call
got 1.50 for these puts, and .75 for the calls. sold them last week.

not sure on this trade and have reduced the size. after I did the calls, since the puts were so far in the money, the stock went from 23.50 to almost 25, could have got almost double for the calls if I waited one day.

however now the stock has fallen all the way back. this is my only US financial.

so I have 2.25, from WFC July 25, puts,and calls. if I get the stock will sell aug or sept. calls.

thanks
selkirk

 

[selkirk]

Cdn. options will look at July which expires next week.

AGU July 64 puts 1.50
look like they will expire good trade.

BMO July 60 calls covered $1
BMO oct 58 calls uncovered .75
these are from my drip account so put them in brokerage account now the stock is at $44, the options will expire worthless, have had this for more than 12 years. so will continue to do options on them, not my favourite bank.

ECA Put July 60 1.50
ECA Put July 64 $1.25
ECA put oct 72 $1
the july look to expire though eca has fallen from 93 to 80. like ECA and would be a good buy at these levels, great nat. play.


MFC July 38 calls covered $1.80
MFC july 34 puts $1
own MFC had some put to me at 38cdn. had puts for 1.50, then sold mfc calls 38 at 1.50 that expired worthless, so wrote these July. when they expire worthless will sell 38 again. though will be lucky to get $1.

thought mfc 34 July puts were free money, well MFC is now down to 35 so this will be close. MFC is a great buy at 34cdn. however would wait because in this market would wait until the dust settles, may even go lower.

RCI.b july 42 .75
Rogers is the best telco in cdn. it has done nothing, however when it expires will sell 42 in the fall.....pays a decent and growing div...would rate the stock a hold, because of the market, long term buy.

RY July 56 covered calls .50
RY jan 56 calls uncovered $1
RY is trading at 45, so the 56 look to expire worthless, also wrote $56, uncovered, they will be covered after July. may sell more calls on RY....good bank though they are in the US and face more write downs, looks cheap, just do not see more earnings growth in the next few months.

thanks
selkirk