All of my covered option positions expired unexercised this past week except one: My FXI holdings were called away. I bought almost all of it back today in a wash sale but left a small capital gain on the table. This continues my gradual reduction in FXI given the likelihood that China's economy is in a serious bubble. I also refreshed my short straddle in FXI options.
I renewed the following option positions that had expired:
Short straddle on GDX.
Short puts under KEX (at 35) and TDW (at 45).
I also initiated a new option position. I sold short puts under FLIR at 25 with an expiration date in May 2010, and I will likely keep renewing this until I'm ready to go long FLIR. I have chosen FLIR Systems as an eventual inclusion in my long equity holdings as I believe it is seriously undervalued, much like KEX and TDW, and I wouldn't mind going long FLIR at 25.
I continue to hold long puts against IYR and LMT as bets against bubbles in real estate and defense spending. I am convinced that investors going long either of those sectors now will regret their decisions within a couple of years.
I renewed the following option positions that had expired:
Short straddle on GDX.
Short puts under KEX (at 35) and TDW (at 45).
I also initiated a new option position. I sold short puts under FLIR at 25 with an expiration date in May 2010, and I will likely keep renewing this until I'm ready to go long FLIR. I have chosen FLIR Systems as an eventual inclusion in my long equity holdings as I believe it is seriously undervalued, much like KEX and TDW, and I wouldn't mind going long FLIR at 25.
I continue to hold long puts against IYR and LMT as bets against bubbles in real estate and defense spending. I am convinced that investors going long either of those sectors now will regret their decisions within a couple of years.
