Seeking Alpha

Options2Wealth's  Instablog

Send Message
I used to run a limited partnership, boutique hedge fund in the 90s. Retired in 2000 and moved from New York City to Toronto, Canada, got married, raised a family and basically settled down. After a few years in Toronto, my wife got tired of the city’s 8 months of cold weather and insisted that... More
My company:
  • Back To Sun Diego... 1 comment
    Jul 15, 2013 11:17 PM | about stocks: AAPL, CSCO, FSLRQ, VIAV, JNPR, LDK, QCOM, S, SPWR, SUNE, TSL

    This post was long overdue...

    Unfortunately, after my return from Europe about 2 weeks ago, I was too buried in work from my daytime job and just could not find the time to collect all the screenshots and complete the final closing calculations for this final post..until now!

    As per my plan telegraphed here a number of times over the past few months, on June 28th, 2013, exactly 6 months after I started my blog on December 30th, 2012, I exited out of the remaining positions held in my Options2Wealth portfolio and closed my experiment the same way I had cash.

    On the morning of June 28th, 2013, as soon as the markets opened in NYC, I sold

    100 contracts of SPWR January 2014 $12 CALLS at an average price of $8.81 per option, netting after commissions, $87,897.84

    500 contracts of SUNE January 2014 $7 CALLS at an average price of $2.17 per option, netting after commissions, $107,770.97

    900 contracts of SUNE January 2014 $6 CALLS at an average price of $2.78 per option, netting after commissions, $248,283.44

    100 contracts of June 2013 $1.50 CALLS expired worthless, netting a BIG FAT $0, and in the process suffering a loss of -$5,176.63, including commissions.

    It took me almost 3 hours to close the positions, but in the end, I was able to secure decent prices for my options...(all screenshots shared below)

    Clarification: After I announced my intention to sell my January 2014 SPWR CALL position, I received private messages from a number of folks who also sold out their SPWR position(s)...The reason(s) I sold my SPWR was a) to make a clean close of my Options2Wealth portfolio, and b) to rollover the proceeds and buy the cheaper, slightly out of the money SPWR September and December $25 CALLS, because the percentage gain from this rollover will be infinitely greater than by me holding on to my January 2014, $12 CALLS...For what it is worth, I have built a very sizeable position in SPWR CALL options for this next leg up in the company's stock price...

    On the last trading day of June, 2013, my public portfolio, Options2Wealth, had a net cash value of $1,074,475.06, up $1,064,475.06 from its original seed capital of $10,000...In other words, my portfolio, over its 6 month life, experienced a compounded growth of 10,644.80%.

    During the markets' swoon in June, I was worried if my portfolio will close the experiment above the $1 million mark. Thank God, my option positions somehow held their ground and allowed me to bow out gracefully...

    I recognize that many who have not followed my blog since its inception, will probably frown and throw up their arms in utter disbelief, and possibly, outright contempt, "What audacity to claim such outrageous and farcical rate of returns...and that too on a public forum..." Unfortunately, all I can say to them is to take the time to read the blog in its entirety, and, I also encourage them to ask questions of some of the blog's regular readers...and let them share their thoughts on the veracity of my numbers...

    This has been a fun 6 months and I sincerely hope that my blog benefited its readers...not just intellectually, but especially where it matters the most: in their individual brokerage account(s)... :-)

    Going forward, I will try and respond to as many questions as I possibly can, but my postings here will not be as frequent as in the past...However, there are a couple of posts that I had planned to write, but never got around to...I will try and publish those posts in the not too distant future...these posts will focus more on the macro picture, as opposed to the nitty gritty of managing an active portfolio...I am confident that the regular readers will benefit as they continue to master the techniques shared here to build their nest egg at a very healthy clip.

    More than anything, I hope my blog has helped folks become comfortable, and confident, in their ability to use this amazing tool called options and safely leverage their assets and make gobs of money...what is most unbelievable is that not only it is legal, but one does not even need a license to effectively use options to build wealth faster than most professional money managers, who, as we all know, do need a license...LOL!

    Finally, thank you all for indulging me by taking the time to read my posts and making me feel somewhat important...LOL! It has been great getting to know some of you over the past 6 months...and if you will allow me to make a parting wish...I hope that you all will share your new found talent in making money, with others...because only when we give, and share, with no quid pro quo expectations, do we enrich ourselves beyond our wildest dreams...


    DISCLAIMER: All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is definitely not for the faint of heart as one's portfolio can move up, or down, anywhere between 10%-30% during a single trading day. Feel free to follow my progress here, but PLEASE do not follow my moves. However, if, in spite of all my exhortations, should you decide to do so, be advised that you, and ONLY YOU will be responsible for any losses that you may suffer...In other words, the onus is strictly on you. On the other hand, if the move(s) result in a profit for you, I am open to discussing a split. ;-)

    (click to enlarge)

    Disclosure: I am long SCTY, SPWR, STP, SUNE, TSLA.

Back To Options2Wealth's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • goferit
    , contributor
    Comments (18) | Send Message


    Thanks for sharing your fantastic options investment adventure with all of us. Yes, I agree, you did really fantastically well. I too made some money every so often when I tried mirroring your moves. One skill that I need to work on is "patience". Even after buying 4month or 6month options, I don't hold on to them long enough to make the "real big" long term money. Had I been patient and not exited my positions every time the stock had a volatile down day or two, I would be a lot richer than I was. But thanks to you, I hopefully will be able to stay the course next time. Today I am "richer" from the experience I gained from your sharing experience. Thanks and God Bless You!


    18 Jul 2013, 12:39 PM Reply Like
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.