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J.D. Welch

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  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Great, thanks!
    Jun 20 12:55 PM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Great, thanks, prem! So far it's working, but I do want to get better at it. Thanks for the advice...
    Jun 20 12:49 PM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    That was very helpful, thank you. One follow-up question, though: It was my understanding that even if the current price drops below the strike price of your put, there's not guarantee that the buyer of the put will exercise prior to expiration. Has it been your experience that you get assigned shares when the price drops below the strike, even though you're several months away from expiry?
    Jun 20 12:20 PM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Wow, great reply, thanks! I just sent you a PM about those PDF stock reports on ARLP.

    I'm a bit confused by one thing, however. You say that you think ARLP could be "somewhere in the ballpark of $68 by the end of the year", and yet you're looking at writing a Dec 50 put? That seems contradictory, or am I missing something?

    Thanks!
    Jun 20 11:29 AM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    I am also long ARLP, but I can't seem to get any folks to talk about it much. What are your thoughts on it, theartbusiness?
    Jun 20 10:23 AM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Thanks, smeland. I definitely need to read up on IV. Do you have any good reference material/links that I could use to further educate myself? That would be much appreciated...

    I'm just getting my feet wet with options, and with stocks that I either own (covered calls) or want to own (writing puts). I know it's risky, that's why I'm starting small; I'm not really looking for "outsized returns" at this point, just want to generate a little extra income from the covered calls and writing puts on stocks that I want to be long anyway...

    Thanks for your comments!
    Jun 20 10:08 AM | Likes Like |Link to Comment
  • Could It Be That I'm Smarter Than My Broker? [View article]
    Thanks, I'll look into them...
    Jun 20 09:59 AM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Yeah, I've got that same problem with patience. That's why I want to wait for the price of CRUS to jump back down a bit and see where the premiums end up for, say, a $28 strike, which is where they got called away. Plus I had some other things in mind to do with those proceeds, which I just wrote about and submitted to the SA Editors; however, I've got some dividends coming in, plus some other assorted cash that I'm going to shunt over to my IRA account, and then I'll have enough to place a put on CRUS if its price cooperates. If it just keeps going up, I've enjoyed the ride, but I've got other fish to fry on my watchlist...
    Jun 19 09:16 PM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Thanks, Dave. I'm still learning the ropes with options. Thanks for your advice. :-)
    Jun 19 09:13 PM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Agreed, DM, and I haven't ruled that out. But it's shot up so high that the premium of a "desirable entry price" doesn't quite seem worth it at the moment to tie up that amount of cash. Like I said, it's a volatile stock, and could dip quite a bit in a short period of time, which would make an entry poing desirable from both the perspective of selling the put and being put the shares at that price. I'm not ruling it out, I'm just gonna play a waiting game for now. Maybe I'm wrong and we've seen the "bottom" of this little bear run, but I think there will be more opportunities to jump back into CRUS if I'm patient.

    Thanks for the comment!
    Jun 19 05:56 PM | Likes Like |Link to Comment
  • My Rookie Season Writing Options: Second Inning - June Expiry And July Contracts [View article]
    Thanks, Dr. Murray, but as the title implies, this is my "rookie" season writing options contracts. I can't afford to be put 1,000 shares of AAPL at $498; I'm pretty sure my broker wouldn't let me execute an order such as that. LOL! I see what you're saying, that the $515 strike is way OTM so it probably wouldn't happen, but I need to get a few more trades under my belt and a bit more dry powder on hand before I take a chance on a strategy like that. Thanks for the comment, though! :-)
    Jun 19 05:44 PM | 1 Like Like |Link to Comment
  • Could It Be That I'm Smarter Than My Broker? [View article]
    "I guess it was because a lot of us were working our butts off to make the money they were constantly losing or eating up in fees."

    That's a big part of it, yeah. I've only got one kid left at home, and she's in high school now, so there's the work thing and the daddy thing and the traveling for work thing... That, and it hasn't been until relatively recently that we have all the great tools that are available to us on the internet. (Notice I said "relatively"...) :-)
    Jun 15 08:02 PM | 1 Like Like |Link to Comment
  • Signal Of Coal Rebound As Production Rises [View article]
    I'm now long ARLP & ACI. Not a huge investment, but it's still money. Coal isn't going away, & neither is the global demand for it. If you're trading, you may have been screwed these last 6+ months or so. If you're investing... Buy & monitor. It's a bummer that ACI slashed its dividend recently, but that's how it goes...

    It's pretty warm here in Phoenix already. If we have a hot summer, that will help, but the real trick is going to be getting terminal capacity built up to export the stuff to China & India. That and getting Obama out of the White House... LOL!
    Jun 15 06:45 PM | 1 Like Like |Link to Comment
  • Could It Be That I'm Smarter Than My Broker? [View article]
    Did you read my blog that supplements the information in this article? That pretty much explains it all...
    Jun 15 02:51 PM | Likes Like |Link to Comment
  • Could It Be That I'm Smarter Than My Broker? [View article]
    Hi, wellser. No, I've never heard of SigFig.com. Interactive Brokers can seem a little complex at first, but once you get the hang of it they're just like any other tools. Like I said, they're not for everyone, but I really like their low commissions, especially on options, where I plan to start being more active in writing covered calls, as well as cash-secured puts when there's a stock I'm interested in and I can afford 100 shares of it.

    Thanks for your feedback, glad you've enjoyed the other articles. Good luck!
    Jun 15 02:29 PM | 1 Like Like |Link to Comment
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