Wednesday, May 08, 2013

Buy BRKB IWM (sell puts)

Buy BRKB via selling Jun 97.5 puts @110.4
Buy IWM via selling Jun 85 puts @96.1
I take tiny June positions in Berkshire and the Russell 2000 ETF. Both are way out of the money and the premiums are tiny. I am doing it because I have virtually no exposure. 

These are even more conservative than my usual low risk, low reward put sales. I remain skittish, but don't want to sit entirely out. I plan to add a few more positions for June, but it will fewer positions that I have been doing because I still have the stock market on storm watch.

APC Anadarko Petroleum came out with good earnings yesterday, and sold off on a reversal day. I paln to do something with APC for June, but am waiting for a better entry. The May APC option sales are looking good for now.

Net long SPY
Net short APC LEN

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