Welcome to the second update of the IRA Portfolio. First, I am going to summarize the current state of the IRA Portfolio then I will get into the specifics of the specifics of all the activity we had since the last article.
Net of closed positions we are up a grand total of $11. However, our open positions in AAPL, CLF, ABX, and SLW are all profitable and waiting to be closed. Below is the summary of our activity for the last month.
ABX – Barrick Gold Corporation
- No new trades since the last article. With ABX trading at 17.82 the AUG 16/11 Put Spread we sold is looking safe.
AAPL – Apple Inc
- On 7/19 we rolled the JUL 430/380 Put Spread to the AUG 420/370 Put Spread for a credit of $72. (member chat link)
BTU – Peabody Energy Corporation
- On 7/19 BTU was trading at $16.45 so we had to adjust the 20/15 Put Spread we sold. So, we bought back the short 20 put for a debit of $355 and bought 100 shares of BTU for a debit of $1670. Next we sold 1x SEP 19 CALL for a credit of $38 and sold 1x AUG 16/11 PUT Spread for a credit of $66. This leaves us with 100 shares of BTU at a cost basis of $18.09 per share. (member chat link)
CLF – Cliffs Natural Resources Inc
- On 7/19 CLF was trading at $17.71 so we had to adjust the 20/15 Put Spread we sold. So, we bought back the short 20 put for a debit of $232 and bought 100 shares of CLF for a debit of $1771. Next we sold the AUG 17/12 PUT Spread for a credit of $85 and sold the AUG $19 CALL for a credit of $60. This leaves us with 100 shares of CLF at a cost basis of $17.58
X – United States Steel Corporation
- The JUL 17/12 Put Spread we sold expired worthless.
SLW – Silver Wheaton Corporation
- The AUG 19/14 Put Spread we sold is almost worthless so we will look to close it early next week.
Below is the state of the IRA Portfolio as of 7/28/2013.
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