New CC Trade: GE

Earlier this month I purchased 1k shares of GE stock for a covered call trade. The stock has a trend of rising a week before its October earnings release date (which was 18 Oct) and an overall rise from October through the end of the year so, keep your eye on this one. The stock (and the overall market) started to decline after I purchased it so I bought some put options during the decline to help recover some profits.

Here’s a look at how I did:

# Shares or Contracts Purch Price Capital Out Sell Price Capital In Comm & Fees Gain / Loss

% Gain & Loss

800s

100s

24.28

24.30

19,424.00

2,430.00

25.00

25.00

20,000.00

2,500.00

5.90

5.90

570.10

64.10

2.9%

2.6%

100s 24.34 2,434.00 25.00 2,500.00 5.90 60.10 2.5%

10 Nov 25 Calls 0.45 450.00 10.00 440.00 1.9%

10 Nov 25 Puts 1.41 1,410.00 1.58 1,580.00 20.00 150.00 10.6%

TOTAL PROFIT           1,284.30 5.3%


My charts for this trade:

 

Follow me on Twitter or StockTwits for real time entries/exits.

Screen Shot 2013-06-18 at 8.07.12 AM

Advertisements

What do you think? Let me know in the comments!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s