Most of my positions did not trade on the November cycle. As a result, we needed Sept to expire before Nov would trade (the next two months trade on options now). Well just because they start to trade does not mean the market makers are on top and allow for those options to trade. By this I mean for example XLE did not have any stikes above 71 and the etf traded into 72 yesterday. It was frustrating. Any how, we did get a nice fill to day on the 74 strike netting 1.27 (which most of you right now could get a better fill. Such is my timing)
You have to take what the market gives you and if they do not change the rules mid stream, you can usually wait for the trade to come your way.
I also rolled out to Nov on my TLT trade for an over 10% which as you all know I try to get each and every month on each and every trade. Some times much more as in the XLE roll some times less. I do have some GTC rolls on GDX. EWZ is not where near where I would like. We need several more good days before I can get a good roll. This one may just have to let the Oct expire and then look to see form there where to go. As for DBA, I am long way into 2010 so I can wait for this one to come back and begin to sell short months again.
Best of trades out there. This is some wild stuff.
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Hi Dell,
news off Yahoo regarding oil
"By ANDREW TAYLOR, Associated Press Writer
23 minutes ago
WASHINGTON - Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in an months-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer."
Election plan? Low oil prices.
I believe it will play a minor role for the very short term.
They don't want to admit that any oil drilled in this country will still be sold at the market price. The big oil companies don't have any interest in selling cheap oil at home.
The supply and demand theory in this case will not play any role, since they are just considering the ban to expire and the potential for gasoline at the pump coming from these new areas is rather slim for the next 5 years.
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