We are starting a new $100K Virtual Portfolio this weekend.
The new virtual portfolio is going to be aimed at drawing an income of $2,500 per month and we're going to be running a live, virtual portfolio for members as an experiment which, if it goes well, will lead to other virtual portfolios going live. The $100KP is a low-touch virtual portfolio, looking to stay well hedged and making most if it's money by selling options and dividends. It's so low touch, that we haven't made a change in 2 weeks as Aug 8th was the last update!
As of August 8th, we had unrealized gains of $6,690 and a cash gain of $12,291 over the first 4 months. Today I am simply making notes on positions that need to be changed today on options expiration day. We'll do a full review over the weekend:
GE: Will be called away at $11. GE will be in the new virtual portfolio.
PGF has Sept $12 calls and Sept $13 puts and those are on track to be called away. Likely in the new virtual portfolio.
DBC is a leap and the Aug $21 calls should be rolled across to Sept (even) and 2011 $15s rolled to Jan $21s at $2.60, taking $6,000 off the table and leaving a bearish commoditiy spread.
UNG: Jan $9s will be in the new virtual portfolio. Aug $14 puts are worthless and calls can stay naked.
UYG: Will be called away at $4. Will be in the new virtual portfolio and Aug $4s ($1.35) can be rolled to Dec $5 puts and calls ($1.50).
STI: Will be called away at $15. No longer interested.
KEY: Will be called away at $5. Will be in new virtual portfolio and Aug $5s ($1.40) can be rolled to Dec $6 puts and calls ($1.90)
USB: Will be called away at $18.
