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Not a bad week as I raked in $1500 this week. My OIH had been a dry well for a few months but it looks like it’s on its way to recovery as energy demand is red hot! I sold 2 May contracts to rake in $1100 in my arbitrage account. In my mini account, I went double long in the Dow by picking up 200 shares of DDM and selling 2 April OTM for $400.

So with the crazy market going up or down from one week to next, my Double Down Dow Arbitrage Theory is working bloody well. I’m now Long Double Dow with short calls in my mini account till April expiry and currently Long Double Short in my power account with hopes of selling Calls Short (inverse long). Whoa…. did that just make your head spin like it did with me?

If you want to learn more, check out ETF Covered Calls.