Port 24 update

Friday the 19th was June options expiration... and I lost 1000 Dendreon and 1000 BioCryst shares.

So the Port is now worth $109,753 (8.8% annualized return), with over $34,000 in cash. This is a good time to have loads of cash on hand, as I truly believe we will have another nasty market correction within a few months. My trick is now to find a couple SAFE places to invest this, earn a couple percent on covered calls, and be able to still have the principal ready when such correction occurs.

My first thought is oil -- I think we will see oil go to at least $90 a barrel by late July. So the exchange-traded fund USL is a possibility. It does not trade options, however, so if I want to get some covered calls I will need to go with USO (currently ~ $38/share). That works for me: selling the July $40s at about $0.90 (2%+) is probably the best play. We'll see what happens on Monday!

Regards,
Trond