Options expiration

Today is November option expiration day and I have one option that is expiring. This is a first for me but looks like it won't be the last as I have some in December that may go the same way.

The thing about an option that is at zero value is that it takes quite a jump in the stock price in order to get into the money or even just break even. I see that I have six that are at zero and four of them are December options, one is today's and one is January.

Obviously letting the time value of the option run it's course is not beneficial so I will be looking at other options as they near their various expiry's to gauge what the stock may yet to. Because I have been using a service to make these picks I have been relying on their selection method and exit timing for these. Over all in the last two years they have done well enough that I might figure that I can trust their decisions.

The key is "overall".

If I choose to bail right now I risk missing the opportunity of placing trades to make the gains that will at least pull my small portfolio back up. I have a number of newer positions that are at not bad pricing now. I'll give it a bit more yet. If this were a full money back guarantee AND I had not seen good results from their historical trades AND I had not committed most of my small account I might have already dropped the service in favour of going back to my own thing.

I had hoped that they would have had a better plan when the market was stalled but, not being able to sell options in my TFSA account has tied my hands on a few of the trade suggestions.

I will continue to track these trades and see where it goes though while still placing new trades

I will likely be sending some cash over to Questrade to set up for spreads and strangles next week.

No movement on the Optioneer / Strikepoint front as the numbers from yesterday were not good enough to place a new trade. The market was right back where it was when I placed the first trade so I will wait for a bit more movement in either direction or a shorter time to expiry.

Jeff.