Posts

TIB - An Investors Journal #609 - 3D Printing, Silver, French Supermarket, German Bank, US Semiconductors, China, Electric Vehicles, US Utilities, Europe, US Treasuries

avatar of @carrinm
25
@carrinm
·
·
0 views
·
4 min read

Catch up report on my managed portfolio for the week to June 17 - discipline says to write he report especially when the news is bad.

In a week where S&P 500 dropped 6.14%, my managed portfolio dropped 4.85% = a little less bad but essentially the same.

Only one stock made it to big movers list - Lifeist Wellness (LFST.V) (+10%). Boeing (BA) and Europe banks did make headway. Big losses from Yooma Wellness (YOOM.CN) (-53.8%), JinkoSolar(JKS) and Fiverr International (FVRR)

3D Systems Corporation (DDD): 3D Printing. Assigned early on a naked put at 48% premium to $9.44 closing price (Jun 16). Cumulative breakeven after a long period selling naked puts (Jan 2021) comes down to $9.23 - that is why I was comfortable being assigned at such a large premium.

iShares Silver Trust (SLV): Silver. Assigned early on sold leg of a 22.5/20 credit spread at 11% premium to $20.24 closing price (Jun 16). Rather than take the risk of being exercised on the bought put (20), I sold that. As it happens price closed at $19.98 at expiry. Breakeven is $21.58 following the closure of the credit spread which was kicked down the road in May at a loss

Carrefour SA (CA.PA): French Supermarket. Assigned on sold leg of 18.5/17.5 credit spread at 1.2% premium to €18.28 closing price (Jun 17). Breakeven €18.20. As the multiplier was only 10, I rounded up the holding to 100 shares at 0.13% premium to the assigned price (Jun 20)

Quick look at the chart shows a stock cycling well on an uptrend and then derailed by the recession jitters. Price did not even react to the Ukraine war.

Commerzbank AG (CBK.DE): German Bank. Assigned on sold leg of 8/7.7 credit spread at 1.8% premium to €7.86 closing price (Jun 17). Breakeven €7.95

I keep coming back to Commerzbank as it lags the other European banks - one day this will change - the move (dark blue line) in the last month feels like the start. The chart compares a bank ETF (CB5.DE - the bars) and banks mentioned in this report.

NVIDIA Corporation (NVDA): US Semiconductors. Closed out small holding to raise cash for 20% profit since March 2021.

Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR): China Index. Assigned on covered call for 15% blended profit since March 2019.

ChargePoint Holdings, Inc (CHPT): Electric Vehicles. Assigned on covered call for 5.8% blended profit since April/May 2022.

Utilities Select Sector SPDR Fund (XLU): US Utilities. With price opening at $66.93 (Jun 15), I kicked the can down the road on a 71 strike put option to July 8 70 expiry - I wanted a little more time and to get out of the market sell off mode. The net premium was smaller than the initial sold premium. This naked put is in place to cover a short stock position. Timing is a challenge as I did leave the stock short position over the dividend record date - I use dividends from Blackrock Muni Bond fund (MYI) to pay that.

Vanguard FTSE Europe Index Fund ETF (VGK): Europe Index. 56/54 bear put spread exercised and assigned for 3.6% profit. Work that I did last month to convert ratio spreads to put spreads helped bank these profits.

Eurodollar Futures,Jun-2022 (GEM22): Interest Rate Futures. Futures contract shorted in May expired for 16 basis points loss - the interest rate markets had the Federal Reserve rate hikes fully priced in right at the start of this year

Invesco QQQ Trust (QQQ): Nasdaq Index. With price opening at $275.59 (Jun 16) closed out 288/280 bear put spread for a tidy 43% profit as the sold leg was bought back for trading costs.

iShares 20+ Year Treasury Bond ETF (TLT): US Treasuries. With price closing at $112.08, 116/113.5 ratio put spread was exercised and assigned yielding 2.16% profit but not enough to cover the cost of protection thus far. I remain short 100 shares at exercise price of $116 and that should work to drive the profits especially as I will keep writing naked puts below the current price.

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA.MC): Spanish Bank. With price closing at €4.2725 5.25/5.75 bull call spread expired out-the-money. This spread was part of a call spread risk reversal with a 4.9 strike sold put funding the call spread. I had kicked the sold put (4.9) down the road to avoid going to exercise - for trading costs at same strike. I do believe we will see Europe banks prices rises once rates start rising - if they do I will go to exercise on the sold put.

42 covered calls expired (Europe 9 UK 1 US 32) with only two assigned (both US). Only 2 naked puts written (both US)

6 Credit Spreads expired (US 4 Europe 2) with two going through the bottom (Dutch Bros (BROS) and Nucor (NUE) for maximum loss and two being assigned (both Europe reported above). I did make the wise choice to do few credit spreads this cycle.

Through the bottom losses

Dutch Bros Inc (BROS): Us Restaurants. 8.1% blended loss since May/June 2022. This is a challenging stock to own as it is on the short sellers list.

Nucor Corporation (NUE): US Steel. 3.2% loss.

Kicked a bunch of sold puts down the road
ABB Limited (ABBN.SW): Europe Industrials - I do have this hedged.
Dutch Bros Inc (BROS): Us Restaurants.- lower strike - this is not a good arena Couer Mining (CDE): Silver Mining - same strike - small loss

Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas

Images: I own the rights to use and edit the Buy Sell image. News headlines come from Google Search. All other images are created using my various trading and charting platforms. They are all my own work

Tickers: I monitor my portfolios using Yahoo Finance. The ticker symbols used are Yahoo Finance tickers. Crypto tickers come from TradingView

Charts: http://mymark.mx/TradingView - this is a free charting package. I have a Pro subscription to get access to real time forex prices

Investing: Interactive Brokers provides comprehensive global markets coverage with very competitive commissions. Open an account to earn up to USD 1,000 in IBKR stock. https://mclnks.com/ibkr

June 13-17, 2022

Posted Using LeoFinance Beta