02 May 2019 THURSDAY newsletter

New Trading Today:

My GTC was filled (#1): I made a closing closing purchase on my JUL19 Gold short 1200-strike PUT at 0.50 ($50).    It was sold at 0.9, so the profit was +$40 per option. 

My GTC was filled on 01MAY19 (#2) I opened a new trade as my GTC to sell  AUG19 Gold 1450-strike CALL  for 1.00 ($100) was filled.   The net margin was $581.00  Expiration: 84 days on 25JUL2019.  Prob. OTM 96%.

New Trade: This morning I sold short strangle:  SEP19 Gold, the 1500-CALL and the 1160-PUT at 1.60 ($160).  I expect the net margin (aka: buying power effect = BP effect) to be around $580.  Prob. OTM ~ 97%.  Expiration: 117 days on 25SEP2019.  Potential ROI: ~ 31% in four months.  Note: 0.7 for 1500C and 0.9 for the 1160P for total 1.60 excl. commissions.  

This type of trading is risky and not suitable for all investors.  The trades here in the newsletter are for educational purposes only and not intended as a trade advisory service.  Option Income Training Bulletin  (c)2019 by Don A. Singletary

Summary of my Positions 02 May 2019:

Short Strangle:
Short SEP19 Crude Oil 80-strike CALL for 0.17

Short SEP19 Crude Oil 45-strike PUT for 0.17


Short Strangle: 
Short the JUL19 Crude Oil  75-strike CALL for 0.11 ($110)
Short the JUL19 Crude Oil 50-strike PUT for 0.15 ($150)

Short the NOV19 Soybean 1200-strike CALLs for 2.125 cents.

Short the NOV19 Soybean 1100-strike CALLs for 3.0 cents

Here’s an updated chart for these two (above) short NOV19 Soybean CALLs:

AUG19 Gold 1450-strike CALL  for 1.00 ($100)  (GTC filled on 01MAY2019)   

OCT19 Gold, the 1500-CALL and the 1160-PUT at 1.60 ($160)  new trade today.
Here’s chart with these over-layed on the OCT19 Gold contract:

Short the DEC19 Corn 330  for 2.0 cents ($100.)  (In the original post on this post I had failed to carry over this position, so I had added it to keep the list here accurate.)

This will probably be it for this week.  Have a great weekend.  Anytime you have questions/comments, please just drop me an email to: Don@WriteThisDown.com .  I’m glad to help.  Have a great weekend. – Don

Don A. Singletary

If you are new to the website and haven’t yet seen it, here is the link to my Selling Commodity Options book: (click or tap the cover below for more info.)

If there is a young person or young couple among your family and friends who need a good book to start in the stock market, then I would suggest my Stock Market for Beginners, available for under $9 with Amazon Prime shipping.  It’s great for ages 12 and up and it has just gotten it’s 20th consecutive 5-Star review.  It makes a great and constructive gift.  I also have a free YouTube channel on this subject with some informative short videos for beginners at:  Stocks for Beginners Channel 
For just book into click the cover pic below, thanks. 



The commentary and examples are for teaching purposes only and are not intended to be a trading or trade advisory service. Any investments, trades, and/or speculations made in light of  the ideas, opinions, and/or forecasts, expressed or implied herein on the web site and/or newsletter, are committed at your own risk, financial or otherwise. Trading with leverage could lead to greater loss than your initial deposit. Trade at your own risk.   Investors and traders are responsible for their own investment/trading decisions including entries, exits, position, sizing and  use of stops or lack thereof.  This is not a trade advisory service and is for educational purposes only.  The content on the pages here is believed to be reliable - but we cannot guarantee it.