Red River Resource Fund

[selkirk]

someone I talk about investing from time to time, has a small account that is very focussed on oil.

told him last week that it would be a good idea to write sell covered calls, and maybe get a few more stocks in the portfolio, not sure if he did this.... so let us see how much this type a portfolio can make...or lose considering the resources have been.

note: will try to break the return of this portfolio
and the avg. resources fund cdn. and cdn. energy fund. (note last time Mr. Gic started with 50,000 and doubled in three years, there was only one losing trade. CAE which doubled less than two years later. this will be harder only resources.

1100 oilexco $14.05 = 15455
200 cnq cdn. natural resources
2000 cash

total
the portfoliio is in cdn. dollars, oil trades on Toronto and cnq toronto and new york.

Red River Resource Fund

1100 oil
200 cnq
1 sept 90 call 1.65 (1.65-1.75) = $165
1 oct 94 call 2.60 (2.60-2.70) = $260
5 oil 15 call .65 (.65-.75) = $325
6 oil 16 call .45 (.45-.55) = $ 270

cash
$2960

$60 commissions

next update late september, this person does not trade the portfolio and so we will follow and not trade often.

thanks
selkirk

 

[selkirk]

since sector getting hammered however some good premiums on some options.

will sell on montreal

2 cnq oct 96 calls 1.05 (1.05-1.20) = $210

this will be added to cash

thanks
selkirk

 

[selkirk]

oil 10 oct c $13 .35 (.35/.60) = $350

will add to cash oil has been drilled or killed down to 11.55 -1.11. so will sell 13 calls oct. and wait. the stock is cheap however all oil are selling off.

will do an account update soon, and the price of cnq when the portfolio started.

thanks
selkirk

 

[selkirk]

forgot the price for CNQ in the orginal portfolio

Sept. 2008 Orginal
200 CNQ $81.98 X 200 = $16396
200 OIL 1100 X $14.05 = $15455

cash 2000

total 33,851

Red River Resource

1100 oil
200 cnq
1 sept 90 call 1.65 (1.65-1.75) = $165
1 oct 94 call 2.60 (2.60-2.70) = $260
2 CNQ Oct 96 calls (1.05-1.20 )= $210
oil 10 oct c $13 .35 (.35/.60) = $350
5 oil octorber 15 call .65 (.65-.75) = $325
6 oil october 16 call .45 (.45-.55) = $ 270

cash
$3490

every trade $15 commish has been calculated.

thanks
selkirk

 

[selkirk]

this is my gold trade may be short term, gold is rallying, of coarse the govt. is saving everyone,...think inflation.

YRI 300 X $10.25 =$3075

may sell a covered call on the position. or just trade it....hopefully at a profit.

thanks
selkirk

 

[selkirk]

will sell a covered call on yri

3 oct calls $12 .60.70 300 X .60 = $180

now if gold flys may regret this however a good gain will be made and lower my cost base .60 a share.

add to cash

thanks
selkirk

 

[selkirk]

going to sell

10 november $12 (.50/.75) = $500

the 500 goes to cash.

2 nov CNQ (1.10/1.30) = $220

220 goes to cash for a total of $720.

thanks
selkirk