May Trades

Trades:

• Sold to Open 8x PCX Covered Call, Strike 6.00 @ 0.15 (May 19th expiry)
• Sold to Open 8x RENN Covered Call, Strike 7.00 @ 0.30 (May 19th expiry)
• For the options period expiring May 19th, after additional new funds and nasty loss early this month, I will emerge with a measly 2% or so ROI.

Gut Check:

• Both stocks went down. Not as drastically as DNDN, but quickly enough that I missed the good prices yesterday -- especially RENN, which had a price of 0.55, which would have made a very tidy sale price.
• Prices were still going down today--looks like France/Europe election issues yesterday, and more Greece troubles early today. I took a chance that this might continue all day today, maybe even this week, and decided to take the prices above before time value ticked down even more even if share prices held sort-of-steady.
• With my usual bad luck, prices could jump back up after. Urgh.
• But my Trading Strategy isn't supposed to be about speculation! It's about seeing what's available now, and deciding to take it or not. And once I've secured a certain level of profit, I need to just let go and not regret. It is the stress of regrets that's taking a toll on me.
• Strange... Just checked now (0650h PST) and Google Finance shows PCX price gapped up at open. But QuesTrade had shown it ticking down at market open... Hmm...
• DNDN is now trading at LESS THAN $10! The company posted mild profit gains, and that was apparently just not good enough. Might be more scary times squeezing profit out of this next month... Now I'm glad I'm at a Strike 14.00 waiting for expiration.
• There's the possibility of buying that back and getting another Strike. I'm tempted to try it, even if it is speculation, though at a Strike of 12.00 it might be a safe bet, when the share price is ticking down toward $9.
• ROI for the month still in the positive, but only because of new cash. No more huge wins like the early lucky days of very volatile stocks, I guess. But still better than the 1% everyone's projecting.