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Stock portfolio change:
I re-established my short position on Toll Brothers Inc (N-TOL; home builder) after the stock had a little rally by buying more put options. The June $22.50 puts cost $2.25. My preference is to have shorted a stock that was more dependent upon discretionary spending such as a restaurant or casino, […]
Stock portfolio change:
I sold my long position in CV Technologies Inc. (T-CVQ, biopharmaceuticals) for $0.51 after having bought it for $0.68; this resulted in a loss of 25%. CV Technologies sells Cold F/X the cold medication recognized by Health Canada. The stock was purchased after it released quarterly earnings of $0.08 after having pulled […]
Economics:
The Bank of Canada surprised everyone by doing nothing when the consensus view was that they would drop rates by 0.25%. I find it especially surprising since inflation is still well contained and the most recent GDP growth was negative. Most other central bankers would have dropped rates (other than the European Central Bank […]
Stock portfolio change
I sold my Toll Brothers (N-TOL; homebuilder) $30 puts for $10.20 (purchase price was $9.70 for a 5% return) and replaced them with Toll Brother $22.50 puts for $3.00. Selling the more expensive puts allowed me to take $7.20 of cash out of the market so instead of risking $10.20, my risk […]
I bought some more Nexen Inc (T-NXY, N-NXY) an oil and gas company at $39.40 after the International Energy Agency (IEA) said it plans on reducing the forecast of oil supplies after studying depletion rates on the world’s 400 biggest oil wells. Apparently the revisions (which represents an important change in methodology) to the […]
My call options on BCE Inc (T-BCE, N-BCE) would have expired tomorrow, so I sold the positions and took profit rather than exercising and taking delivery of the stock. The C$36 May calls that were bought for $0.50 were sold for $0.80, resulting in a 60% profit. The U$30 May calls that were […]
Stock Portfolio Change:
I sold Amerigo Resources Ltd (T-ARG, copper producer) at $1.91 for a 13% loss and replaced the position with more Quadra Mining Ltd (T-QUA, copper producer) at $24.68 and wrote June covered calls ($26 strike) against the position giving me $1.05 in premium. The covered call option position reduced my effective purchase […]
