Cabin's journal of buys, sells, and covered calls...

I forgot to mention a new trade today...

I bought 100 shares of Chevron (CVX). I have been looking at this company for quite awhile. Me and my wife have different oil companies and ETFs. I've had CVX on and off over the years. In some ways I hate to buy it this high...But, I'm OK with that.

What I like about it; location, location, location, drilling, clean restrooms, fair dividend, fair option money (covered calls), a drop in price with a glut of oil in the US.

If the middle east blows up, I'll be good with oil. People are rethinking electric...I think we will see more hybrids coming. If we see a conversion to electric, Chevron has the locations to make it happen too.

Bought today at $148.98...I then did a covered call for the Sept 24 $165.00

I got $6.06 for the fill (Fidelity)...Price improvement from $6.00.

Current dividend is over 4%.
 
Fall Apple fall!!

I have one covered call for Jan 24 at $190. The other is for Mar 24 at $200.

I really don't want them to get called away...

Lets get some bad news going...(wrist watches causing cancer, phones exploding, child labor in China, using puppy mills in the Midwest for some notorious purpose)!!

Help me out here people...
 
I'm going to chat (blabber) for a few minutes about Apple...

I looked at my two options. If I can buy back the Jan 24 for about twenty cents ($20.), in the next few days, I'll do it. I'll then do another covered call, but first things first (have to see what happens over the next few weeks with the stock).

My mind goes to China...It's a mess, but the people love their Apple phones. Many will have to give them up...A price point they can not deal with. Bit the bullet and get a Huawei...Make the government happy.

My other though goes to those waitresses at the local coffee shop dive I go to. Most had Apple watches. I assume they bought them on credit...Either from Apple or their credit card. Also, their term was a 2-3 year plan with whatever carrier they wanted.

Those waitresses (and many others) are in big trouble. They have; large credit card debt, higher utility bills, contracts with carriers and cable companies they will walk away from, student debt, car payments (they will walk away from), health costs rising.

Just thinking, many will give up two things, their Apple phones/watches and Starbucks!!

I own stock in both companies...I believe they both are solid companies and I am willing to hold the covered calls on them, as we go through the new year.

I just feel many younger people will (not by choice), give up/back their phones and watches. They will have to (bitterly), come to the "dark side" of android.

This will be a fair size of people having to do this. Enough to effect the bottom line of Apple. It will not kill the golden goose, just wound it for awhile...


PS I think there was some profit taking today on AAPL...
 
So I tried to buy back my option on Apple "Buy to Close" at 35 cents. The option went to 34 cents, but I didn't get a fill. I called Schwab...I asked was my order placed on a market at the time of the 34 cent fill. They said "yes"!!

But they said the reason it wasn't filled was because the 34 cent was tied to other options with legs (box/butterfly spreads), things like that. I can see from the MM's perspective they would want that (more trade action), but in some ways I feel cheated...
 
Cabin1111 said:
So I tried to buy back my option on Apple "Buy to Close" at 35 cents. The option went to 34 cents, but I didn't get a fill. I called Schwab...I asked was my order placed on a market at the time of the 34 cent fill. They said "yes"!!

But they said the reason it wasn't filled was because the 34 cent was tied to other options with legs (box/butterfly spreads), things like that. I can see from the MM's perspective they would want that (more trade action), but in some ways I feel cheated...
More...

it means the 34 cents was fictitious. It was just a split against another price that might have more favorable.
 
newwurldmn said:
it means the 34 cents was fictitious. It was just a split against another price that might have more favorable.
More...

Even if it was mixed with others, I should have got my fill. The SEC needs to make that correction for the smaller/retail trader...

I'll even be willing to pay a buck or two to have that trade fill...PFOF can lead to unsavory practices in my mind. I wouldn't mind if Fidelity or Schwab asked if I would be willing to pay a buck or two, to get my fill at my price. If I get price improvement all the better.

Just trying to buy back from/with time decay...Before it gets called away.
 
Cabin1111 said:
Even if it was mixed with others, I should have got my fill. The SEC needs to make that correction for the smaller/retail trader...

I'll even be willing to pay a buck or two to have that trade fill...PFOF can lead to unsavory practices in my mind. I wouldn't mind if Fidelity or Schwab asked if I would be willing to pay a buck or two, to get my fill at my price. If I get price improvement all the better.

Just trying to buy back from/with time decay...Before it gets called away.
More...

It's just an allocation. They could have made that price 36 cents and the other leg 2 pennies different.
 
New buy and covered call in my Roth IRA...CVS. We already own 100 shares in our trust.

I wanted to add, since I don't see anything good/great out there to buy at this time...

I bought 100 shares at $78.95 (I've had that price [good till cancelled] for a couple days).
I then sold a CC for the Sept 24 $85. for $3.85...Got price improvement to $3.86

They have increased their dividend over 9% this years...I will be able to grab the upcoming one. The dividend is over 3%.

Things I like about them. They make money, PE about 12, they have contracts with certain Medicare drug benefit companies to have people go to their stores, (they also have a good mail order system). They should be able to close unprofitable stores (and pick up some closed Rite Aid stores). They are putting basic walk up medical clinics in some of their stores. Drive thru, while Costco, Walmart, and Target doesn't have that.

I expect them to close some unprofitable stores...And shrinkage, I get it. But it should be there over the years. A buy and hold, if it's not called away...

Cabin...

PS Still trying to buy back an Apple option cheap...Sit and wait.
 
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I bought back the Apple Jan 19, 2024 $190. option. I didn't want to lose it.

Buy to close (1), .65 ($65.)...Then did a sell to open covered call.

Sept 24, $225.00 I got $2.60 ($260.) for it...

I have another Apple option coming up in March 2024 at $200. We'll see if I buy that one back too...
 
Bought Bank of America today...Love/hate relationship with them.

My grandfather knew the founder...When it was called The Bank of Italy. My grandfather would bring his watermelons to San Francisco...A.P. Giannini would set up a little stand next to him at the farmers market. He would make maybe $1-5. loans to different people. Kept it all in a little book!!

My wife hates the company...Many hoops to jump through years ago.

Earnings are coming out soon...

Bought 100 shares (Roth IRA) at $33.07 Then did a covered call for the Sept 24 $35. I got $2.07 ($207.) for the option.

PE under 10...About a 3% dividend.

Like I would tell my kids (about 20 years ago), "we'll see honey, we'll see"...
 
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