On Monday, May 3rd 2010, I bought two call options on the United States Natural Gas ETF (UNG). The purchase was for the the $8 strike price to expire in October of 2010. The cost to me was only $114.25. My expectation is that the ETF will make it to $9 before October and that I will be able to sell it for about twice it's value. I expect this because the technicals on UNG are reading extremely over sold with climbing momentum. There is also a long way to go, and doubt in the market, so I will need all 5 months of time to see it through.

In my last post I voiced some concern that I might have gotten into a Capital Product Partners, LP call option too soon. Currently it appears my concerns were valid. The fortunate thing is that I have a lot of time left in my call option on CPLP that I can afford to wait and see what happens. I am currently in for a $195.60 and will have until September 2010 to wait to see if the market will take a turn for the better.

According to news coverage, it is expected that this Friday will have some promising information in the Jobs Report which should suggest that the recession is finally turning around. According to the same news coverage, most of this pull back for the past few days has a lot to do with the oil spill in the Gulf of Mexico. Additional news coverage has reported that British Petroleum (BP) is doing a responsible job of cleaning up the mess. If that is the case, and Friday is suppose to be promising, then now is the time to be investing and averaging down stock positions, so I am feeling comfortable about all that I have done to set my self up.

Currently I am collecting dividends on CPLP and EVEP (EV Energy Partners, LP). Both of them also have profit, although they have both taken a deep dip. I currently hold profit on a Brocade Communications Sys Inc call option and the underlying stock seems to only be taking a breather from it's already building momentum. I perceive that after the Jobs report all three of these will see a turn around.

One last thing is my position in the iShares Silver Trust ETF (SLV). Completely unexpected, it has been taking a beating. I completely expected for it to rise up and through the strike price of the Call Option I sold against it at the $19 strike price for this May 2010 expiration. Buy because of the devaluation it has received I am feeling more confident that SLV will continue to be held below the strike price and I will keep both my shares and the premium I collected on the option. We will see by the 21st of May. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com