USO -- Assigned

I allowed the USO position to get assigned as the call expired ITM over the weekend.

Price	Date	Description	Total	aXIRR	aROI
$27.90	2008-12-26	Buy 1000 USO @ $27.90	-$27,900.00	--	--
$27.90	2008-12-26	Sell 10 USO Jan09 $28 Calls @ $2.40	$2,380.05	371.0%	148.3%
$32.90	2008-12-31	Buyback 10 USO Jan 2009 $28 @ $5.50	-$5,519.95	401.3%	154.5%
$32.90	2008-12-31	Sell 10 USO Feb 2009 $30 @ $5.70	$5,680.05	198.8%	108.4%
$34.06	2009-01-02	Buyback 10 USO Feb 2009 $30 @ $6.50	-$6,519.95	198.8%	108.4%
$34.06	2009-01-02	Sell 10 USO Feb 2009 $35 @ $4.53	$4,510.05	321.1%	156.3%
$31.62	2009-01-13	Buyback 10 USO Feb 2009 $35 @ $1.95	-$1,969.95	158.3%	99.3%
$31.62	2009-01-13	Sell 10 USO Feb 2009 $31 @ $3.00	$2,980.05	186.8%	108.4%
$28.30	2009-02-02	Buyback 10 USO Feb 2009 $31 @ $0.75	-$769.95	58.6%	45.3%
$28.30	2009-02-02	Sell 10 USO Feb 2009 $28 @ $2.00	$1,980.05	96.6%	66.6%
$25.74	2009-02-12	Buyback 10 USO Feb 2009 $28 @ $0.40	-$419.95	15.7%	13.8%
$25.74	2009-02-12	Sell 10 USO Feb 2009 $26 @ $1.00	$980.05	32.6%	26.9%
$23.87	2009-02-17	Buyback 10 USO Feb 2009 $26 @ $0.20	-$219.95	-21.3%	-22.0%
$23.98	2009-02-17	Sell 10 USO Mar 2009 $24 @ $2.00	$1,980.05	21.7%	17.9%
$27.46	2009-02-26	Buyback 10 USO Mar 2009 $24 @ $4.00	-$4,019.95	22.1%	18.2%
$27.46	2009-02-26	Sell 10 USO Mar 2009 $27 @ $1.90	$1,880.05	39.6%	31.6%
$28.84	2009-03-18	Buyback 10 USO Mar 2009 $27 @ $1.90	-$1,919.95	38.9%	31.1%
$28.84	2009-03-18	Sell 10 USO Apr 2009 $29 @ $2.00	$1,980.05	89.5%	62.7%
$31.80	2009-03-24	Buyback 10 USO Apr 2009 $29 @ $3.60	-$3,619.95	62.9%	47.8%
$31.80	2009-03-24	Sell 10 USO Apr 2009 $32 @ $1.80	$1,780.05	79.5%	59.0%
$29.49	2009-04-08	Buyback 10 USO Apr 2009 $32 @ $0.25	-$269.95	38.6%	31.4%
$30.69	2009-04-09	Sell 10 USO Apr 2009 29.0 @ $2.10	$2,080.05	61.7%	47.4%
$29.00	2009-04-18	Sell at end of period	$28,975.00	60.5%	46.7%

Held: 113 days
Stock Gain: $1075.00 (3.9%)
Income Gain: $2961.05 (10.6%)
Total Gain: $4036.04 (14.5%)
 

USO -- Roll Down Position

The USO position was rolled down:

Price	Date	Description	Total	aXIRR	aROI
$29.49	2009-04-08	Buyback 10 USO Apr 2009 $32 @ $0.25	-$269.95	38.6%	31.4%
$29.49	2009-04-09	Sell 10 USO Apr 2009 $29 @ $2.10	$2,080.05	61.7%	47.4%

 

USO -- Roll Position Up

The USO position was rolled up:

Price	Date	Description	Total	aXIRR	aROI
$31.80	2009-03-24	Buyback 10 USO Apr 2009 $29 @ $3.60	-$3,619.95	62.9%	47.8%
$31.80	2009-03-24	Sell 10 USO Apr 2009 $32 @ $1.80	$1,780.05	79.5%	59.0%

 

USO -- Catchup

This is a catchup post, since I haven't been diligently posting transactions.

Price	Date	Description	Total	aXIRR	aROI
$27.90	2008-12-26	Buy 1000 USO @ $27.90	-$27,900.00	--	--
$27.90	2008-12-26	Sell 10 USO Jan09 $28 Calls @ $2.40	$2,380.05	371.0%	148.3%
$32.90	2008-12-31	Buyback 10 USO Jan 2009 $28 @ $5.50	-$5,519.95	401.3%	154.5%
$32.90	2008-12-31	Sell 10 USO Feb 2009 $30 @ $5.70	$5,680.05	198.8%	108.4%
$34.06	2009-01-02	Buyback 10 USO Feb 2009 $30 @ $6.50	-$6,519.95	198.8%	108.4%
$34.06	2009-01-02	Sell 10 USO Feb 2009 $35 @ $4.53	$4,510.05	321.1%	156.3%
$31.62	2009-01-13	Buyback 10 USO Feb 2009 $35 @ $1.95	-$1,969.95	158.3%	99.3%
$31.62	2009-01-13	Sell 10 USO Feb 2009 $31 @ $3.00	$2,980.05	186.8%	108.4%
$28.30	2009-02-02	Buyback 10 USO Feb 2009 $31 @ $0.75	-$769.95	58.6%	45.3%
$28.30	2009-02-02	Sell 10 USO Feb 2009 $28 @ $2.00	$1,980.05	96.6%	66.6%
$25.74	2009-02-12	Buyback 10 USO Feb 2009 $28 @ $0.40	-$419.95	15.7%	13.8%
$25.74	2009-02-12	Sell 10 USO Feb 2009 $26 @ $1.00	$980.05	32.6%	26.9%
$23.87	2009-02-17	Buyback 10 USO Feb 2009 $26 @ $0.20	-$219.95	-21.3%	-22.0%
$23.98	2009-02-17	Sell 10 USO Mar 2009 $24 @ $2.00	$1,980.05	21.7%	17.9%
$27.46	2009-02-26	Buyback 10 USO Mar 2009 $24 @ $4.00	-$4,019.95	22.1%	18.2%
$27.46	2009-02-26	Sell 10 USO Mar 2009 $27 @ $1.90	$1,880.05	39.6%	31.6%
$28.84	2009-03-18	Buyback 10 USO Mar 2009 $27 @ $1.90	-$1,919.95	38.9%	31.1%
$28.84	2009-03-18	Sell 10 USO Apr 2009 $29 @ $2.00	$1,980.05	89.5%	62.7%
$29.00	2009-04-17	Sell at end of period	$29,000.00	62.9%	47.8%

 

USO -- Rolled Down

The USO position was rolled down:

Date	Description	Total	aXIRR	aROI
2008-12-26	Buy 1000 USO @ $27.90	-$27,900.00	--	--
2008-12-26	Sell 10 USO Jan09 $28 Calls @ $2.40	$2,380.05	371.0%	148.3%
2008-12-31	Buyback 10 USO Jan 2009 $28 @ $5.50	-$5,519.95	401.3%	154.5%
2008-12-31	Sell 10 USO Feb 2009 $30 @ $5.70	$5,680.05	198.8%	108.4%
2009-01-02	Buyback 10 USO Feb 2009 $30 @ $6.50	-$6,519.95	198.8%	108.4%
2009-01-02	Sell 10 USO Feb 2009 $35 @ $4.53	$4,510.05	321.1%	156.3%
2009-01-13	Buyback 10 USO Feb 2009 $35 @ $1.95	-$1,969.95	158.3%	99.3%
2009-01-13	Sell 10 USO Feb 2009 31.0 @ $3.00	$2,980.05	186.8%	108.4%
2009-02-20	Sell at end of period	$31,000.00	186.8%	108.4%

 

USO -- Roll Position Up

The USO position was rolled up:

Date	Description	Total	aXIRR	aROI
2008-12-26	Buy 1000 USO @ $27.90	-$27,900.00
2008-12-26	Sell 10 USO Jan09 $28 Calls @ $2.40	$2,380.05
2008-12-31	Buyback 10 USO Jan 2009 $28 @ $5.50	-$5,480.05
2008-12-31	Sell 10 USO Feb 2009 $30 @ $5.70	$5,680.05
2009-01-02	Buyback 10 USO Feb 2009 $30 @ $6.50	-$6,480.05
2009-01-02	Sell 10 USO Feb 2009 $35 @ $4.53	$4,510.05
2009-02-21	Sell at end of period	$34,060.00	318.1%	155.4%

The price has climbed to $34.06, so I decided to roll up again. Am I rolling too often? It doesn't seem to be hurting the aXIRR or aROI, but I haven't seen a decline yet either. But it seemed like a good move to up the strike price by $5 for a net cost under $2.

I did run into a problem on this transaction. I bought back the Feb 2009 $30 fine, but when I went to sell the Feb 2009 $35, the Wells Fargo interface wouldn't accept my order. I had to call a service rep to have them put in the order. By the time they got the order in, my original limit price of $3.90 ended up executing for a market price of $4.53 -- so the problem earned me some money. :)
 

USO -- Roll Position Up and Out

The USO position was rolled up and out:

Date	Description	Total	aXIRR	aROI
2008-12-26	Buy 1000 USO @ $27.90	-$27,900.00
2008-12-26	Sell 10 USO Jan09 $28 Calls @ $2.40	$2,380.05
2008-12-31	Buyback 10 USO Jan 2009 $28 @ $5.50	-$5,480.05
2008-12-31	Sell 10 USO Feb 2009 $30 @ $5.70	$5,680.05
2009-02-21	Sell at end of period	$32,900.00	434.3%	174.0%

I was able to roll it up $2 for a $0.20 gain, which increase both aXIRR and aROI over the original position. Seemed like a good move. However, the stock price has moved up $5 to $32.90, so the position is still ITM quite a ways.
 

USO -- New Position

A new position was established in USO:

Date	Description	Total	aXIRR	aROI
2008-12-26	Buy 1000 USO @ $27.90	-$27,900.00
2008-12-26	Sell 10 USO Jan09 $28 Calls @ $2.40	$2,380.05
2009-01-17	Sell at end of period	$27,900.00	339.0%	141.5%