I just wanted to send a quick message to those following my portfolio on Covestor. Please keep in mind that Covestor does not track options positions which has resulted in a material adverse impact on my performance as tracked by Covestor.
For example, my Covestor portfolio lists a long stock position in (Raymond James Financial) RJF that was called away due to a covered call trade. In addition, the thrashing my longs took in the market meltdown was offset by puts I owned on US Global Investors (GROW), which skyrocketed as that stock collapsed.
Note: Incidentally, I initiated a covered call trade in RJF yesterday.
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Tuesday, October 21, 2008
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