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Tuesday Trades – ADM, EOG, CELG

ADM and EOG expired over the weekend.

music selection:  “Times Of Trouble” — Temple of the Dog

Archer Daniels Midland (ADM) covered call expired out of the money on the weekend.  I sold ADM171013C00045000 for 10 cents a share.  The trade will be in force for 39 days and yields a miserable 2.08% annualized.  Including all premiums received, ADM is down 4.04% since 9JUN2017.

EOG Resources (EOG) also expired out of the money over the weekend.  I sold EOG170908C00095000 for 35 cents a share.  The trade will be in force for 46 days and yields 2.92% annualized.  Including all premiums received, EOG is down 1.73% since 29APR2017.

The diagonal call on Celgene moved into the money last week and I’m putting more money into the trade to roll the covered call leg.  I bought to close the 139 strike with 22SEP2017 expiry for three dollars a share.  I sold CELG171013C00145000 for two dollars a share.  Net proceeds to roll the trade were minus one dollar even.  The trade will be in force for 39 days and yields -11.86% annualized.  The full trade is up 5.31 on 55.60 basis since 15AUG2017.  That is good for 9.55% gross.  I’ll refrain from annualizing that as the result would be misleading for a trade that will remain open for more than another year.

Devour your prey raptors!

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