My main concern during the September series (expiry 17th. September) was with my covered Call options on 5000 Centrica plc struck at 260.0p. I opened these Calls when the stock stood at 246.5p in March 2009. During the contracts I received the half year dividend (£436.50), paid in June. Towards the end of the contract the stock rose from a low of 217p to 268p a few days before the contract expired. I was in some danger, therefore, of being assigned. I would have had to sell the shares for 260p. Well . . . counting the div and the opening receipt for the Call options, that would have made a nice profit. But with the next ex-div date coming up on 23rd. September, I closed out the 260 September Calls and sold 5 x March 2010 280 Calls. The net receipt for this transaction was £187.00. Counting in option receipts, and including all expenses, the shares have cost me net 226.36p. Centrica stock at the moment is 257.4p mid. I have qualified for the next dividend payment, but it would be unwise to sell the shares. Fans and Followers will by now be able to say why!
"Give me control of a nation's money and I care not who makes the laws." (Mayer Amschel Rothschild)
"Most people are obsessed with money. Hardly anyone is interested in it."
(Wm. Shakespeare)
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Some Useful Links
FTSE 100 Shares Index (Value) 15 minutes delay. BBC Page
FTSE 100 Shares Index (Graphs) 15 minutes delay. BBC Page
ICE Option Pricing Model. 15 minutes delay.
eMail dr.ftse@gmail.com (wkr.inv.club@gmail.com) which deals largely in Traded Options, particularly Options in the FTSE 100 Index. The Club's objective is to make 1% PER MONTH for its members.
Since it's inception in August 2000 the Club has paid out £253,000 in profits to members. Members are strongly advised to withdraw accumulated profits regularly; trading options is always riskier than trading in the underlying securities (i.e the 100 companies whose shares make up the so-called 'FTSE 100 Index')
SILLY BLOG: This is Getting Very Silly
POEMS: The Doc's Homeopathic Poetry
TEAM BLOG Fridge Soup
My Open Option Contracts
(Updated weekly on Friday at close of business, or whenever I re-arrange any of my positions - except I haven't updated them for MONTHS because no one ever reads the blog. See my comments above!)
FTSE INDEX OPTION CONTRACTS
12 x 6850 Short (*) Calls (November 2014 Series)
12 x 6300 Short Puts (November 2014 Series)
Index closed at 6495.6 on 07/10/2014
Expiry on 21st. November 2014
(*) "Short" in the context of option trading means the contracts were opened by selling them.
FTSE INDEX OPTION CONTRACTS
12 x 6850 Short (*) Calls (November 2014 Series)
12 x 6300 Short Puts (November 2014 Series)
Index closed at 6495.6 on 07/10/2014
Expiry on 21st. November 2014
(*) "Short" in the context of option trading means the contracts were opened by selling them.
(**) "Covered" Calls means I have the shares to meet any assignment by the counterparty
(***) "Cash Covered" Puts means I have sufficient cash in my trading account to buy the shares if assigned by the counterparty.
(***) "Cash Covered" Puts means I have sufficient cash in my trading account to buy the shares if assigned by the counterparty.
Monday, 28 September 2009
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I don't leave comments on blogs that use Word Verification. Ditto blogs which I know have Comment Moderation applied. Life's too short and I'm too busy makin' money and what the Hell are these people scared of anyway? If you don't like some creep's comment . . TRY DELETING IT! You have that privilege.
And I never read unpunctuated so-called poetry. I don't understand why self-styled poets think it's clever to make their work difficult to read/understand.