Welcome to the fouth update of the IRA Virtual Portfolio. First I am going to summarize the current state of the Portfolio then I will get into all the activity we had during September expiration.
Profit and Loss – Net of closed positions the portfolio is up a total of $769
Market Commentary – Last expiration I said, “I would like to put a total of $20,000 to work by the end of SEP expiration. If the VIX pops up to around 20 I plan to put about $50,000 total to work.” The market didn’t quite reach the goal but I did manage to deploy $15,000 of buying power. I still feel the market is too high and expect a correction during October. If the vix pops up to around 20 I still plan to put about $50,000 to work. If a correction doesn’t happen I still plan to have a total of $25,000 in buying power put to work by October expiration. Now on to the activity.
AEM – Agnico Eagle Mines Limited;
- On 9/10/2013 I sold 1x OCT 27.5 PUT for a credit of $150 to initiate a position.(member chat link)
BTU – Peabody Energy Corporation;
- The SEP 19 CALL I sold expired worthless.
VLO – Valero Energy Corporation;
- On 9/20/2013 I rolled the SEP 35 PUT to the OCT 34 PUT for a credit of $44.(member chat link)
FCX – Freeport-McMoRan Copper & Gold Inc;
- On 9/10/2013 I bought back the SEP 29 PUT for a debit of $5.(member chat link)
X – United States Steel Corp;
- On 9/10/2013 I bought back the 2x SEP 17 PUT for a debit of $10 total ($5 for each PUT).(member chat link)
Here is a link to the spreadsheet we use to track the portfolio. LINK
