I received all the premium for 4 of 5 Bear Call credit spreads on home builder stocks the exception was CTX. I waited for a break as it was down then up all week. Yesterday my short calls were at 4.00 and my net credit was 1.20. Well this morning it was lower with the market and seemed to follow the over all trend, the stock was as low as 41.90 and then traded between 42. and 42.25 - on the 15 minute chart it looked like a white candle all the previous were red. That is when I decided that it was in my best interest to exit rather then wait. In observing its behavior this month it looked like it was going up for the day. I think my short calls were at 2.40 ask price, then I saw the bid/ask start to drop so I entered a buy order to close at 2.20. After it was filled CTX's price dropped and the short calls ask price dropped to about 1.50 then went back up with the market and closed about where it was when I closed my position.
I think that I did the right thing for the right reasons. Also this week I bought 5 DIA August 136 puts when the Dow was at 14,000 and sold them today for a $250 profit. I did a bull put 110/115 on CMI at about 1 pm EDT and it expired so that's another $250. I tried to sell another short call on KBH at the $35 strike and received .20 net but it reversed back over the strike price and decided to close it, bought it back for .20, only cost me the commission. KBH closed at 35.03 so it was a close one. I did realy well on July Options overall.
