I was assigned again as the stock went up again.
Tried something new this time.  Bought 500 shares of AGNC as it went ex-dividend on Wed and sold 5 calls against them.  I did this on Monday.  However, on Tuesday morning I was assigned already so I had my shares sold from me and I don't get the dividend.  And i didn't even know until Wednesday morning.

So instead I bought 500 shares of FSLR @ 23.80 and sold the $24 calls at $0.56.  Initial credit is $266.30. If I get assigned again, it would be an extra $100 (minus the assignment fee of $20).

Well I was assigned again this week.
Tuesday I bought 500 FSLR @ 21.95 for an investment of $10984.99.
Then I sold the $22 calls for $.70 for a credit of $336.30.

Well my shares of FSLR got smoked last week.  Down 6% on Wed, down another 18% on Thurs, and then after a slight up day on Friday, went right back down another 7% on Tuesday.  I ended up selling them at $18.50 as they reached my threshold of pain.

I switched back to GMCR and bought 400 shares at $23.85, for an investment of $9550.
Then I sold the $24 calls for $0.45.
I'll make $166.30 if not assigned and add another $40 if assigned.

The late assignment last Monday really hurt.

I was assigned this morning right before the market open.  Nothing like good punctuality.
I made $306.30 last week.
Original $9700 is now $10217.87, a 5.33% gain so far.

Today I bought 700 shares of FSLR @ $25.10, for an investment of $17579.99.
I sold 7 $25 call options @ .90 for a credit of $614.80.

If I get assigned, I will profit $524.80.
If I don't get assigned, I will keep the $614.80.

On Monday, I bought 500 shares of FSLR @ $22.10 for an investment of $11,059.99.
Then I sold 5 @22 call options @ $.80 for a credit of $386.30.

If I get assigned, I keep $306.30.
If I keep the shares, I keep the whole $386.30.
Right now, though, it looks like I will get assigned.

So my shares were assigned so totals are in for the first week:


8/13/12  Bought 300 shares of GMCR @ $24.05.  Total investment of $7224.99.
8/13/12  Sold 3 $24 call options @ $0.70 for a total credit of $197.80.
8/14/12  Bought 200 shares of FSLR @ $20.10.  Total investment of $4029.99.
8/14/12  Sold 2 $20 call options @ .60 for a total credit of $108.55.

Sold 300 shares of GMCR @ $24 minus assignment fee = $7180.
Sold 200 shares of FSLR @ $20 minus assignment fee = $3980.

So initial investment:  $11,254.98  (Used $1555 of margin)
Proceeds from sale:  $11,160.00
Proceeds from calls:  $306.55
Total proceeds for the week: + $211.57
ROI of 1.88%
Return on the account of 2.18%

Account now stands at $9911.57 after 1 week.

Tomorrow (Monday, 8/20/12) I will open another position and sell calls against it.

Starting on Covered Calls

Hello.  I wanted to do an investing/trading study and wanted someplace to post my results.  This is where it will be.  I'm going to be doing covered calls in a real money account and I will track the results here.  Every week I will take a position and post it here.  Every month I will sum up how well the account has done, or how bad it has done.  The account will start with $9700 with margin.  I will only use margin to buy enough shares to accomplish my goal for the week.  My goal to start is to make between $200-300 every week.  All commissions and assignment fees will be included in the numbers.

I will be buying high beta stocks with weekly options to achieve my goal.  The 3 stocks I will focus on are GMCR, FSLR, and IDCC.

I actually started this past week, August 13.

8/13/12  Bought 300 shares of GMCR @ $24.05.  Total investment of $7224.99.
8/13/12  Sold 3 $24 call options @ $0.70 for a total credit of $197.80.
8/14/12  Bought 200 shares of FSLR @ $20.10.  Total investment of $4029.99.
8/14/12  Sold 2 $20 call options @ .60 for a total credit of $108.55.