Some of my short option positions expired unexercised last Friday, so I did alright by hanging onto those premiums. I have renewed my option positions as follows:
FXI and GDX: short straddles that expire Sept. 2009.
IAU: short put that expires Sept. 2009. This netted me almost nothing as the bid collapsed just as I entered the trade!
ANV: short put that expires Mar. 2010. This is a new position based on my assessment that ANV is a junior miner that's going places. I remain long ANV itself.
For the first month in quite some time I have no position at all in IWM. I could not find an OTM call that would have made it worth my while to go short. I am not going long the ETF itself until we hit the next leg down in this W-shaped depression.
My previously set option positions in SPY, EFA, and VWO will expire next month. They're OTM so far . . . I like that.
Updating The Alpha-D for Aug. '09
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.