Decided to get into WPL again (this will be the 3rd straight month) This is the same reason as the past 2 trades, WPL has been channelling between 39-40 for the past 2-3 months, there is plenty of support at $38.
The Trade (WPL)
Sell May $38.0 Puts @ $0.41
Buy May $37.5 Puts @ $0.30
Expiry = 24/05/2007
Share/Contract = [...]
As promised, I will be using my cash buffer to do the premium cycle to generate extra cash.
Today i opened a ZFX position. Firstly, I don’t have any shares, so the only thing I can do is sell somebody the right to sell me the shares at an agreed price. The share price was trading [...]
Today is option expiry day!
3 of my positions expired:
OXR: $1,020.5 ($2,668.20-$1,647.70) -Â this was a rolled out position from last month
SGB: $940.60
WPL: $890.60
A total of $2,851.7 for April… not bad for my few hours  of work last month and only risking $10,500.60 (Pretty soon I’ll be able to replace my income) The best thing about this is [...]
Here is a quick and basic idea of what Renting Shares (Covered Calls) and Selling Insurance (Writing Puts) means. Don’t get tied down with the names and convention the gurus have decided to call the strategy… its not important.
What’s in a name? That which we call a rose by any other name would smell as sweet. - [...]
Have you ever had one of those moments in your life where you stopped to yourself and asked, “why am I doing it like this?”. Well over the weekend I had one of those moments! I’ve been selling protected insurance on the Australian stock market since November 2006, to do this safely what I have [...]
Yesterday went off to see Mark Pozzi @
Tax Intelligence to sort out my taxation affairs. I am beginning to like section 8.1 of the ITAA 97.
There’s a couple of interesting things that people can claim but in most cases, don’t claim:
5000km travelling cost without a log book
travel allowance when your employer or trust does [...]
Wow, today was an exiciting day, the Australian market was down today, however all the zinc producers were up heaps! I’ve been stalking these stock for a while now, today I decided to open 2,400 PEM @ 4.211 and 1,700 KZL @ 5.869. Why? cause they are fundamentally good stocks, they have been hammered in [...]
Two of my friends recently travelled to Japan for a few weeks and sent me this cool postcard. First postcard from Japan, maybe one day I will visit. Anyways, right now looking at my taxes and sorting out all the expenses and income for the structures that I created. Going to be sitting down with [...]
This is something I found from my camera. I took it when I was at the mCorp seminar late last year. Not long after that I flew back to Melbourne and purchased this little baby:
http://yonglonglai.com/category/property/melbourne/
Anyways, I hope you enjoy the Percussion
You can find the rest of of my youtube stuff here:
http://www.youtube.com/profile?user=yonglonglai
You will noticed [...]
Opened an OSH position on the Australian stock market yesterday (18 April 2007) - totally forgot about it. I opened 5,500 OSH CFD @ 3.66 and below is the analysis IÂ quickly did when my broker called me.
Looking at the charts, there is very strong support lines at $3.40. OSH is currently in an up trend [...]
