update on some recent trades, avoid double etfs and a good cause

[selkirk]

would like to update some recent trades on some stocks I have mentioned here:

YRI Yamana Gold (trade in US and Cdn.) 11.52
have owned this since nov 2008, by the way it went down almost 40% after I bought it, good market timing.

still stated over 10 cdn. would have a nice profit, have since wrote 3 covered calls on the position, the last one expired in sept (third friday).

so wrote a nov 12 last week at .75 covered calls.
oct .45/.55
nov .75/.80
dec .95

for the most part have wrote them for $1 or more and went out 3 months, would like to keep this shorter, also believe gold holds up. this will be the fourth call, almost covering half of my purchase price. sometimes calls do work...

my biggest gold position, they have had some good gold results, have stated recently would not be my first choice now and not the cheapest mines, however mid tier will perform well in good gold environment, leverage.

out six months will own far less. hopefully half of the positon or less.

BNS on 8/30 in CNBC thread not 1982 bought BNS at 45.39 cnd. and sold a 46 oct for 1.65.

well now it is 48.87, and no if I knew it would go over 48 this quickly would not have sold the call, so will lose the positon.

still will get the div, and counting the call and div ect. the return will be 6.05% minus commissions... (which are low)

of coarse if I never bothered with the call return would have been 9.01%...

still 6% in less than two months is a good return....



please avoid double etfs, and triple etfs, they are meant to be held for very short terms.

most people hold these invesments for months, and months....in flat markets you lose money...and if the market goes in your direction slowly and very little you lose....

most people cannot time the market down to the week....I am one who cannot time the market, ie. YRI.....avoid.

knew someone who had a double etf dog for the TSX in march. at avg price of around 32.50. told him the market was going up on bad news and to cover..might get a 20% rally, should have said 40-60%..

anyways he sold it three weeks ago at 13. even in flat markets, you can lose.
for the most part best to avoid these, have read four articles on the math behind these...

stick to one for one etfs...... and some of those should be avoided,...ung


thanks
selkirk

 

[selkirk]

the good cause

the good cause

from the Canadian Press, saw this on CBC, and the globe and mail, great cause, and congrats to the schools stepping up to the plate, my only question is the list should be much bigger, where are the others, hopefully the rest will follow.

know some people who give large amounts of money to some universities that are not mentioned, maybe they can get them to join... you have to give large amounts to get their ear.

thanks
selkirk

Brandon University is offering full tuition scholarships to the children of Canadian soldiers and diplomats who have been killed in Afghanistan.

The Manitoba school is calling the scholarships Afghanistan Mission Memorial Awards.

University vice-president Scott Grills says the decision follows a request by retired general Rick Hillier for postsecondary schools to consider the move.

Prof. Grills said other institutions such as Memorial University, the University of Calgary and the University of Ottawa offer similar scholarships.

Brandon University is located near CFB Shilo, the home base for many soldiers who have served in Afghanistan.

Lieutenant-Colonel Luc Genereux, the base commander, said military families will appreciate the gesture. He said such long-term support will help children deal with the death of a parent.

One diplomat and 131 Canadian soldiers have died in Afghanistan since 2002.

 

[selkirk]

on Friday bought CNQ for 77.08 and sold a 76 Jan call for $6.20 cdn.
it is part of a hedge on cnq in another account.

all of my options call and puts expired worthless, which is good except....

MFC oct $22 call uncovered
I wrote (sold) MFC oct 19 puts, mfc oct 20 puts and mfc oct 22 calls.

got about .75-1.25 on these options and calls. the trade looked bad until mfc cut the dividend and went down.

the stock traded at 22.03 on friday so I just bought them back cost me .05 plus commission, did it during the day... profitable trade.

2. had RCI.b (RCI in the US) Rogers put to me.
rci.b 28 oct p

got between 1-1.25 for these puts closed 27.80 so had it put to me...love the company, hate the sector, telcos in Canada yield between 4-6%, with stable divs. however the sector is out of favour.

have already wrote a 29 nov, for the rogers stock I own, .50-.75 did that last week.


3. Telus same telco space, 34 oct puts
got 1.20-1.50
now this one is the worse the stock sits at 32.50 cdn. have written 38 nov calls .50 at the same time as the puts.

Friday sold some 34 dec calls .70....yields 6%.

have added to some of my gold stocks, it is performing well.

the market is in full bull mode, so no uncovered calls, (if there is will be far out of the money, ).

note: own mfc in another account 23 nov covered calls on it.

sometime will go over my accounts, the largest account still has a large cash component though plenty of options written.

the other two are almost fully invested and have covered calls, on the positions.

thanks
selkirk

 

[selkirk]

this will be the last of these trades, as I trade over 300 times a year so not really pratical, but these are some of the trades done...

HBM Hudbay mineral toronto bought Monday for 14.75 wrote a 15 dec covered call for .95.

this stock has great premiums on the calls, because it is volatile, today it went to 14.37 low and high 15.37 high close just over 15.

good base metals play with gold potential and plenty of cash, talked about it here around 4 and change and then sold most around 8 or lower, then went over 20 then all the way back down.

they have the previous management which took over from some.......... and the company is better now.



CNQ jan 65 puts 2.20-2.50
cnq jan 100 calls .50

both are uncovered, this is on the US side, have plenty of options on CNQ for nov in Montreal....hope the stock fall a small amount.... amount...should work out though in the future will have fewer calls and puts on a stock, some call it hedging in this case the term is stupid beyond belief...though it may make a good return.

thanks
selkirk