Archive for July, 2010

July options expiration

July 18, 2010

The AMAT July 13 calls I had written expired worthless. Profit was +0.92. I continue to hold a long position in AMAT January 10 calls.

The long position in ZION July 17 calls was exercised, which closed my short position in ZION shares. Those calls cost me 5.73, and the profit on the short position was 5.50. Since the time those calls were bought, income was received by either writing calls against the long calls, or selling puts against the short position in the shares.

The CHK July 23 puts I wrote were assigned, so now I am long CHK shares. The profit on the put spread I wrote (short July 23, long July 19) was +1.00, but keep in mind that my basis in the CHK shares assigned is 23.00.

The JCI July 23 calls I wrote expired worthless for a profit of +1.65. I continue to hold a long position in JCI January 22.50 calls.

I’m back

July 13, 2010

For those of you who follow me on Twitter: I’ve been away from the markets awhile. Been busy getting my career wrapped up, and getting started on retirement.

During the decline in late June I probably missed some good opportunities to write puts against some of my short positions. I don’t want to do that now until we see if the current rally in July is just a relief rally in a broader decline.

The same thing is true of new long positions. I’d rather wait and see if we start weakening again. I have plenty of existing long positions that I am holding, so I am fine if we continue straight up from here.

The end of an era

July 13, 2010

For many years, probably starting back in the early 80s, I have recorded textbooks (and other written material) for vision-impaired students (and others) through the Accessible Textbook Service (formerly the Lexington Volunteer Recording Unit) at the University of Kentucky.

In addition to retiring from IBM, I have also retired from this work. New technologies such as computer scanners have pretty much obsoleted any need to sit and record cassette tapes. The new systems are much more efficient.

The coordinator of the Accessible Textbook Service calculated based on what records she has (I go back farther with the Service than she does) that I spent about 3000 hours sitting in front of a microphone making tapes. It’s the end of another era for me.

Retirement is here

July 9, 2010

You’d think since June 30 was my last day of work at IBM after 33 years that I would have posted here more often. But, I’ve been busy getting my retirement started :-).

We had a nice weekend at Apple Valley, and got to see the fireworks from my brother’s boat just like last year. It had been 2 1/2 months since I had seen my nephews. Everyone got together for a suprise (to me) retirement party Sunday afternoon.

I am back on digital modes (such as PSK-31) for the first time in several months. I have a new laptop now after the hard drive on the old one crashed. This new one has Windows 7 which seems to work just fine.

I probably missed some six-meter openings by being gone but the band has been good some this week as well.

I am also retiring from the Accessible Textbook Service where I have volunteered to record textbooks for blind students (and other vision-impaired people). With scanners and other new technologies, the idea of sitting in front of a cassette recorder and making tapes is pretty outmoded. I am going to investigate other volunteer opportunities in the near future.

After several days of temperatures near 100 degrees, we have had a nearly all-day rain today which is much needed.