The Money Tree

Safely Generating Income in Retirement

What Others are Trading – June 2012

Posted by mounddweller on June 1, 2012

Fellow Traders,

We started this month off with a bang.  What looks good to you?  What have you recently traded?  What’s on your watch list?  Post a comment to this message and let us know.

Regards,

Troy

 

 

 

5 Responses to “What Others are Trading – June 2012”

  1. dealmakr said

    Hi Troy,

    Markets have been fairly tough over the last few months. Have pulled in my horns a bit, but here are some position updates

    06/19/12 New Position ETFC

    Bot 3000 ETFC 7.91
    Sold 30 Jul 8 Call .37
    Sold 30 Jul 7 Put .12

    A smaller position that could provide a nice percentage return if called at expiration. May add a few more depending upon market conditions.

    dealmakr

    Updated Position HBAN 06/16/12

    03/04/11 Bot 8000 HBAN 6.53 (52240)
    03/04/11 Sold 80 Apr 6 put .12*
    03/04/11 Sold 80 Apr 7 call .13*
    03/07/11 Bot 2500 HBAN 6.68 (16700)
    03/07/11 Sold 25 Jul 6 Put .33*
    03/07/11 Sold 25 Jul 7 call .45*
    03/08/11 Sold 25 Jul 6 Put .30*
    03/09/11 Bot 5000 HBAN 6.77 (33850)
    03/14/11 Sold 50 Jul 8 call .16*
    03/18/11 Sold 50 Oct 6 Put .48*
    03/23/11 Sold 30 May 7 Call .17*
    03/28/11 Bot 3000 HBAN 6.67 (20010)
    04/21/11 Sold 40 Oct 6 Put .36*
    04/21/11 Sold 40 Oct 8 Call .15*
    04/21/11 Bot 4000 HBAN 6.57 (26280)
    04/28/11 Sold 80 May 7 Call .07*
    04/28/11 Sold 25 Oct 7 Put .68*
    05/23/11 Sold 50 Oct 7 Call .27*
    06/01/11 Sold 60 Jul 7 Call .06*
    06/06/11 Bot 2500 HBAN 6.04 (15100) *
    06/06/11 Sold 25 Oct 6 Call .50*
    06/07/11 Sold 25 Oct 6 Call .60*
    06/07/11 Sold 25 Oct 7 Call .21*
    06/08/11 Sold 50 Oct 7 Call .21*
    06/14/11 Bot 2500 HBAN 6.36 (15900)
    06/24/11 Sold 50 Aug 7 Call .06*
    07/21/11 Sold 30 Sep 5 put .05*
    07/21/11 Sold 100 Sep 5 Call .05*
    07/21/11 Sold 50 Oct 5 Put .07*
    07/21/11 Sold 50 Jan 5 Put .20*
    07/26/11 Bot 2500 HBAN 6.03 (15075) *
    07/26/11 Sold 25 Aug 6 Call .18*
    07/27/11 Sold 25 Aug 6 Put .20*
    08/04/11 Sold 25 Oct 5 put .20*
    08/05/11 Sold 40 Aug 5 Put .09*
    08/11/11 Sold 10 Aug 5 Put .28*
    08/11/11 Sold 40 Sep 4 Put .15*
    08/11/11 Sold 10 Sep 5 put .47*
    08/11/11 Sold 25 Oct 6 Call .21*
    08/19/11 Sold 50 Oct 4 put .26*
    08/19/11 Bot 2500 HBAN 4.68 (11700) *
    08/26/11 Sold 100 Jan 2.5 put .09*
    08/26/11 Sold 50 Jan 7.5 Call .08*
    09/20/11 Sold 40 Jan 4 Put .24*
    09/20/11 Sold 40 Apr 7 Call .20*
    09/20/11 Sold 50 Apr 3 put .15*
    09/21/11 Sold 75 Nov 6 Call .08*
    09/29/11 Sold 50 Nov 6 Call .07*
    09/29/11 Sold 50 Nov 4 Put .14*
    10/04/11 Sold 40 Apr 7 Call .21*
    10/12/11 Sold 40 Apr 4 put .35*
    10/12/11 Sold 20 Apr 7 Call .30*
    10/21/11 Sold 75 Nov 5 Call .24*
    10/22/11 Bot 7500 HBAN 5 (37500)*
    10/22/11 Bot 2500 HBAN 7 (17500)
    10/25/11 Sold 50 Dec 6 Call .07*
    10/26/11 Sold 50 Dec 6 Call .06*
    11/02/11 Sold 25 Dec 5 Put .26*
    11/02/11 Sold 50 Jan 6 Call .14*
    11/02/11 Sold 40 Apr 4 Put .28*
    11/11/11 Sold 25 Dec 5 Put .20*
    11/17/11 Sold 75 Jan 6 Call .12*
    11/17/11 Sold 25 Apr 6 Call .37*
    11/25/11 Sold 25 Apr 6 Call .22*
    12/05/11 Sold 40 Jul 4 Put .32
    12/09/11 Sold 25 Apr 5 Put .45*
    12/09/11 Sold 50 Jul 7 Call .14
    12/13/11 Sold 50 Apr 6 Call .17*
    12/21/11 Bot 2500 HBAN 5.35 (13375)*
    12/21/11 Sold 25 Jul 5 Put .55
    12/22/11 Sold 50 Jul 7 Call .18
    01/04/12 Sold 25 Apr 5 Put .21*
    01/06/12 Sold 25 Jul 7 Call .23
    01/17/12 Sold 50 Jul 7 Call .24
    01/23/12 Sold 25 Jul 6 Put .62
    01/26/12 Sold 50 Jul 6 Put .80
    01/26/12 Sold 25 Jul 6 Call .36
    02/03/12 Sold 25 Mar 6 Put .31*
    02/21/12 Sold 25 Oct 5 Put .31
    03/26/12 Sold 50 Apr 6 Put .07*
    03/27/12 Sold 25 Oct 6 Put .41
    04/18/12 Sold 50 May 6 Put .07*
    04/20/12 Sold 12 Oct 7 Call .35
    04/20/12 Sold 50 Oct 8 Call .11
    04/27/12 Sold 13 Oct 7 Call .37
    04/27/12 Sold 25 Jul 6 Put .15
    05/22/12 Sold 25 Oct 6 Put .50
    05/23/12 Sold 50 Oct 7 Call avg .265
    06/01/12 Sold 25 Oct 7 Call .24
    06/01/12 Bot 12500 HBAN 6.14 (76750)*
    06/01/12 Sold 125 Jun 6 Call .21*
    06/04/12 Sold 50 Oct 7 Call .21
    06/08/12 Sold 20 Jan 6 Call .70
    06/08/12 Sold 25 Jan 7.5 Call .22
    06/11/12 Sold 40 Jan 4 Put .11
    06/11/12 Sold 25 Oct 7 Call .21
    06/11/12 Bot 2500 HBAN 6.16 (15400)

    Closed trades Profit/Loss

    03/16/11 Dividend .01 on 15500 shares 155
    04/16/11 Expired 80 Apr 6 Put 960
    04/16/11 Expired 80 Apr 7 Call 1040
    05/21/11 Expired 110 May 7 Call 1070
    05/23/11 Bot Close 50 Jul 6 Put .17 725
    06/07/11 Bot close 85 Jul 7 call .03 1050
    06/15/11 Dividend .01 on 27500 shares 275
    07/07/11 Bot Close 90 Oct 6 Put .19 2130
    07/15/11 Expired 50 Jul 8 Call 800
    08/05/11 Bot close 25 Aug 6 Put .60 (1000)
    08/19/11 Expired 25 Aug 6 call 450
    08/19/11 Expired 50 Aug 7 call 300
    08/19/11 Bot close 50 Aug 5 Put .34 (1060)
    09/13/11 Bot close 40 Sep 5 put .31 (620)
    09/15/11 Dividend .04 on 32500 shares 1300
    09/17/11 Expired 40 Sep 4 Put 600
    09/17/11 Expired 100 Sep 7 Call 500
    10/04/11 Bot close 125 Oct 7 call .01 2800
    10/22/11 Expired 75 Oct 6 Call 3275
    10/22/11 Expired 40 Oct 8 Call 600
    10/22/11 Expired 50 Oct 4 Put 1300
    10/22/11 Exercised 75 Oct 5 Put 850
    10/22/11 Exercised 25 Oct 7 Put 1700
    11/19/11 Expired 50 Nov 4 Put 700
    11/19/11 Expired 125 Nov 6 Call 950
    11/19/11 Exercised 75 Nov 5 Call 1800
    11/19/11 Sold 7500 HBAN 5 0 (exercise of 7500 bot @ 5 on 10/22/11)
    12/09/11 Bot close 50 Dec 5 Put .04 950
    12/16/11 Dividend .04 on 35000 shares 1400
    12/17/11 Expired 100 Dec 6 Call 650
    12/22/11 Bot close 125 Jan 6 Call .06 850
    01/21/12 Expired 100 Jan 2.5 Put 900
    01/21/12 Expired 40 Jan 4 Put 960
    01/21/12 Expired 50 Jan 5 Put 1000
    01/21/12 Expired 50 Jan 7.5 Call 400
    02/03/12 Bot close 80 Apr 4 Put .02 2360
    02/22/12 Bot close 50 Apr 5 Put .05 1400
    03/15/12 Dividend .04 on 37500 shares 1500
    03/17/12 Expired 25 Mar 6 Put 775
    04/09/12 Bot close 75 Jul 6 Put .29 3375
    04/21/12 Expired 50 Apr 3 Put 750
    04/21/12 Expired 50 Apr 6 Put 350
    04/21/12 Expired 100 Apr 7 Call 2240
    04/21/12 Exercised 100 Apr 6 Call 2325
    04/21/12 Sold 10000 HBAN @ 6 4750 (exercise of lowest cost shares)
    05/19/12 Expired 50 May 6 Put 350
    06/13/12 Sold 8100 HBAN @ 6 (1134) (exercise of 8100 bot @ 6.14 on 06/01/12)
    06/13/12 Exercised 81 Jun 6 Call 1701
    06/14/12 Dividend .04 on 34400 shares 1376
    06/16/12 Sold 4400 HBAN @ 6 (616) (exercise of 4400 bot @ 6.14 on 06/01/12)
    06/16/12/ Exercised 44 Jun 6 call 924

    Total return on closed trades 52186

    Long 30000 HBAN avg/share 6.60 (197880)

    Stock closed 06/1512 6.30

    Short 40 Jul 4 Put 1280
    Short 25 Jul 5 Put 1375
    Short 25 Jul 6 Put 375
    Short 25 Jul 6 Call 900
    Short 175 Jul 7 Call 3375
    Short 25 Oct 5 Put 775
    Short 50 Oct 6 Put 2275
    Short 175 Oct 7 Call 4401
    Short 50 Oct 8 Call 550
    Short 40 Jan 4 Put 440
    Short 20 Jan 6 Call 1400
    Short 25 Jan 7.5 Call 550

    Net Position Exposure

    Covered calls 30000 shares
    Naked calls 16500 shares
    Naked puts 20500 shares

    I had bot the 12500 piece when the market pulled back and when the stock continued to fall wrote short term Jun 6 calls against it for some protection. When the stock stayed north of 6 going into the ex dividend date, most of the piece was called away leaving the remainder to get called upon expiration. In opening the additional Oct 7 & Jan 7.5 calls am looking to buy in the short tern Jul 7 calls and roll out.

    Still like the story here and will trade around it. Options can be closed early depending upon market conditions.
    Good Trading

    • dealmakr said

      HCBK position 06/16/12

      10/26/11 Bot 5000 HCBK 5.75 (28750)*
      10/26/11 Bot 5000 HCBK 5.81 (29050)*
      10/26/11 Bot 5000 HCBK 5.84 (29200)*
      10/26/11 Sold 100 Nov 6 Call .15*
      10/26/11 Sold 50 Dec 5 Put .15*
      10/28/11 Bot 5000 HCBK 6.29 (31450) (1200 exercised @6 Dec / balance 3800 shares)(23902)
      10/28/11 Sold 50 Dec 6 Call .475 avg*
      11/01/11 Bot 5000 HCBK 5.9 (29500)*
      11/01/11 Sold 100 Nov 6 Call .15*
      11/02/11 Sold 25 Jan 5 Put .25*
      11/02/11 Sold 20 Apr 7 Call .25*
      11/09/11 Sold 25 Dec 6 Call .25*
      11/09/11 Sold 25 Dec 6 Put .45*
      11/14/11 Sold 25 Jan 6 put .60*
      11/16/11 Bot 5000 HCBK 5.75 (28750)*
      11/15/11 Sold 75 Dec 6 Call .15*
      11/17/11 Sold 50 Dec 6 Call .15*
      11/25/11 Sold 100 Jan 6 Call avg .108*
      11/25/11 Sold 25 Apr 6 Call .31*
      11/28/11 Bot 2500 HCBK 5.24 (13100)*
      11/29/11 Sold 50 Jan 6 Call .10*
      11/29/11 Sold 25 Jul 5 Put .75
      11/30/11 Bot 2500 HCBK 5.32 (13300)*
      12/01/11 Bot 2500 HCBK 5.61 (14025)*
      12/01/11 Bot 2500 HCBK 5.68 (14200)*
      12/02/11 Sold 25 Jan 6 Call .25*
      12/06/11 Sold 25 Jan 6 Call .30*
      12/06/11 Bot 2500 HCBK 5.97 (14925)*
      12/07/11 Sold 25 Jan 6 Call .30*
      12/08/11 Sold 25 Jan 6 Call .25*
      12/12/11 Sold 25 Jan 6 Call .21*
      12/13/11 Sold 25 Jan 6 Call .25*
      12/14/11 Bot 5000 HCBK avg 5.895 (29475)*
      12/16/11 Bot 2500 HCBK 6.05 (15175)*
      01/04/12 Bot 2700 HCBK 6.57 (17739)(2500 exercised @6 Apr / balance 200 shares)(1314)
      01/04/12 Sold 20 Apr 7 Call .30*
      01/04/12 Sold 25 Jul 6 put .45
      01/06/12 Sold 25 Apr 6 Put .25*
      01/18/12 Sold 25 Apr 6 Put .20*
      01/25/12 Sold 25 Mar 7 put .25*
      04/23/12 Sold 40 May 7 Call .11*
      05/22/12 Sold 40 Oct 7 Call .20

      Closed trades Profit/Loss

      11/02/11 Dividend .08 on 25000 shares 2000
      11/19/11 Expired 200 Nov 6 Call 3000
      12/14/11 Bot close 25 Dec 6 Put .25 500
      12/17/11 Expired 50 Dec 5 Put 750
      12/17/11 Expired 38 Dec 6 Call
      12/17/11 Exercised 162 Dec 6 Call 4875 (includes expired)
      12/17/11 Sold 16200 HCBK 6.00 2652
      12/29/11 Bot close 25 Jan 6 Put .14 1150
      01/21/12 Expired 25 Jan 5 Put 625
      01/21/12 Exercised 300 Jan 6 call 5480
      01/21/12 Sold 30000 HCBK 6 7550
      02/08/12 Dividend .08 on 6500 shares 520
      02/29/12 Bot close 50 Apr 6 Put .05 875
      03/17/12 Expired 25 Mar 7 Put 625
      04/21/12 Exercised 25 Apr 6 Call 775
      04/21/12 Expired 40 Apr 7 Call 1100
      04/21/12 Sold 2500 HCBK 6 (1425)
      05/08/12 Dividend .08 on 4000 shares 320
      05/19/12 Expired 40 May 7 Call 440

      Total return P/L on closed trades 31812

      Long 4000 HCBK avg/share 6.304 (25216)

      Stock closed 06/15/12 6.16

      Short 25 Jul 5 Put 1875
      Short 25 Jul 6 Put 1125
      Short 40 Oct 7 Call 800

      Net position exposure

      Covered calls 4000 shares
      Naked puts 5000 shares

      dealmakr

      • dealmakr said

        Updated position 06/16/12 SOHU

        03/23/12 Bot 1000 SOHU 55.2
        03/23/12 Sold 10 Apr 57.5 Call 2.00*
        03/23/12 Sold 20 Apr 47.5 Put .60*
        03/26/12 Sold 10 Sep 47.5 Put 3.90
        03/30/12 Sold 10 May 47.5 Put 1.40*
        04/04/12 Sold 10 Apr 47.5 Put .60*
        04/04/12 Sold 10 Sep 47.5 Put 5.00
        04/10/12 Sold 5 Apr 47.5 Put .91*
        04/10/12 Sold 10 Sep 47.5 Put 6.10
        04/10/12 Sold 10 Apr 55 Call .35*
        04/20/12 Sold 10 May 57.5 Call 1.20*
        05/17/12 Sold 10 Sep 40 Put 3.90
        05/21/12 Sold 10 Jul 55 Call .60
        05/21/12 Sold 10 Dec 25 Put 1.20

        Closed Trades Profit/Loss

        04/10/12 Bot close 10 Apr 57.5 Call .20 1800
        04/21/12 Expired 35 Apr 47.5 Put 2255
        04/21/12 Expired 10 Apr 55 Call 350
        05/17/12 Bot close 10 May 47.5 Put 3.2 (1800)
        05/19/12 Expired 10 May 57.5 Call 1200

        Total return P/L on closed trades 3805

        Long 1000 SOHU (55200)

        Stock closed 06/15/12 43.62

        Short 10 Jul 55 Call 600
        Short 10 Sep 40 Put 3900
        Short 30 Sep 47.5 Put 15000
        Short 10 Dec 25 Put 1200

        Net position exposure

        Covered Calls 1000 shares
        Naked Puts 5000 shares

        The stock did go up to near the 47.5 strike on 06/07 and was looking to see if it could cross over. The plan was to buy back in the short Sep 47.5 puts and maybe write a few naked calls higher than 55, but it couldn’t hold. Will still look to buy in the 47.5 puts or maybe roll a few down and out to reduce exposure. The Dec 25 puts were opened as that is about where the cash position of the company lies. The Jul 55 calls will probably be bot back in and a new round of CC’s opened.

        dealmakr

  2. dealmakr said

    MWW position 06/16/12 Closed

    12/27/11 Sold 25 Jun 6 Put .56*
    12/28/11 Bot 2000 MWW 7.66 (15320) *
    12/28/11 Sold 25 Feb 6 Put .21*
    12/28/11 Sold 20 Feb 8 Calls .60*
    01/26/12 Sold 20 Jun 9 Call .30*
    01/27/12 Bot 2000 MWW 7.22 (14440) *
    02/28/12 Sold 20 Jun 8 Call .25*

    Closed trades Profit/loss

    02/18/12 Expired 25 Feb 6 Put 525
    02/18/12 Expired 20 Feb 8 Calls 1200
    06/15/12 Sold 2000 MWW 8.48 1640 (stock bot @ 7.66)
    06/16/12 Expired 25 Jun 6 Put 1400
    06/16/12 Expired 20 Jun 9 Call 600
    06/16/12 Exercised 20 Jun 8 Call 500
    06/16/12 Sold 2000 MWW 8 1560 (stock bot @ 7.22)

    Total return P/L on closed trades 7425

    Capital used on long position 29760
    Margin used on short put position about 1500

    Total capital used 31260

    Return on capital 23.75% around 6 month exposure

    Stock closed 06/15/12 8.70

    “Just when I was going to add a bit the company decides to explore strategic alternatives (look for a buyout). Added the Jun 8 calls prior to the announcement and will see how things go from here.”

    Decided to close out the position going into what could be a volitile week coming up. Never right sized the position before or after the for sale announcement and could have done better.

    dealmakr

    Updated position XRX 06/16/12

    11/30/10 Sold 50 Dec 11 Put .16*
    11/30/10 Sold 30 Dec 11 Put .15*
    12/06/10 Bot 3000 XRX 11.74
    12/06/10 Sold 30 Apr 12 Call .82*
    12/31/10 Sold 25 Jul 9 Put .30*
    01/21/11 Sold 30 Feb 12 Call .12*
    01/27/11 Sold 30 Feb 11 Call .16*
    02/09/11 Sold open 30 Jul 12 Call .32*
    02/22/11 Bot 1500 XRX 11
    02/22/11 Sold 15 Apr 11 Call .46*
    02/23/11 Sold 25 Oct 9 Put .52*
    03/14/11 Sold 15 Oct 12 Call .40*
    03/16/11 Sold 15 Jul 11 Call .30*
    03/16/11 Sold 25 Oct 12 Call .30*
    03/22/11 Sold 15 May 11 Call .16*
    03/25/11 Bot 1500 XRX 10.68 (16020)
    04/11/11 Sold 20 Oct 12 Call .47*
    04/12/11 Sold 30 May 10 Put .14*
    05/06/11 Bot 1500 XRX 10.35 (15525)
    05/06/11 Sold 20 Jun 10 Put .23*
    05/23/11 Sold 30 Jul 11 Call .11*
    05/25/11 Sold 25 Jul 9 Put .16*
    06/08/11 Bot 1500 XRX 9.47 (14205)
    06/08/11 Sold 35 Oct 11 Call .17*
    06/29/11 Sold 25 Aug 9 Put .12*
    06/29/11 Sold 25 Jan 9 Put .52*
    07/22/11 Sold 40 Sep 9 put .11*
    07/22/11 Sold 55 Sep 11 call .12*
    07/29/11 Sold 25 Oct 9 Put .40*
    07/29/11 Sold 25 Oct 10 Call .30*
    08/01/11 Sold 25 Oct 10 Call .21*
    08/02/11 Sold 20 Sep 9 put .40*
    08/05/11 Sold 25 Aug 8 Put .18*
    08/17/11 Sold 25 Sep 8 Put .24*
    08/17/11 Sold 25 Oct 8 Put .44*
    08/19/11 Sold 25 Oct 7 put .43*
    08/19/11 Bot 1500 XRX 7.51 (11265)
    10/03/11 Sold 25 Oct 7 Put .43*
    10/22/11 Bot 2500 XRX 8 (20000) exercise
    10/25/11 Sold 50 Jan 10 Call .12*
    10/26/11 Sold 50 Jan 10 Call .12 *
    11/28/11 Sold 15 Apr 6 Put .27*
    11/28/11 Sold 25 Jan 9 Call .10*
    01/25/12 Sold 25 Feb 8 Put .22*
    01/25/12 Sold 50 Mar 9 Call .06*
    01/25/12 Sold 50 Jul 10 Call .12
    02/14/12 Sold 20 Jul 8 Put .58
    05/29/12 Sold 20 Jul 7 Put .27

    Closed Trades Profit/Loss

    12/18/10 Expired 80 Dec 11 Put 1250
    12/29/10 Dividend .0425 on 3000 shares 127.5
    01/21/11 Bot close 30 Apr 12 Call .28 1620
    02/13/11 Bot close 30 Feb 11 Call .13 90
    02/19/11 Expired 30 Feb 12 Call 360
    03/25/11 Bot close 15 Apr 11 Call .05 615
    03/25/11 Bot close 30 Jul 12 Call .14 540
    03/29/11 Dividend .0425 on 6000 shares 255
    04/11/11 Bot close 25 Jul 9 Put .13 425
    05/21/11 Expired 30 May 10 Put 420
    05/21/11 Expired 15 May 11 Call 240
    06/08/11 Bot close 45 Jul 11 call .03 645
    06/08/11 Bot close 20 Jun 10 Put .59 (900)
    06/28/11 Dividend .0425 on 9000 shares 382.5
    07/01/11 Bot close 25 Oct 9 Put .18 850
    07/15/11 Expired 25 Jul 9 Put 400
    07/22/11 Bot close 60 Oct 12 Call .07 1870
    08/02/11 Bot close 55 Sep 11 call .03 495
    08/05/11 Bot close 25 Aug 9 Put .70 (1450)
    08/19/11 Bot close 25 Aug 8 Put .53 (875)
    09/18/11 Bot close 60 Sep 9 Put 1.18 (5840)
    09/12/11 Bot close 25 Sep 8 Put .75 (1275)
    09/28/11 Dividend .0425 on 10500 shares 446.25
    10/19/11 Bot close 25 Oct 9 Put 1.39 (2175)
    10/22/11 Expired 50 Oct 7 Put 2150
    10/22/11 Expired 50 Oct 10 call 1275
    10/22/11 Expired 35 Oct 11 Call 595
    10/22/11 Exercised 25 Oct 8 Put 1100
    12/28/11 Dividend .0425 on 13000 shares 552.50
    01/20/12 Bot close 25 Jan 9 Put .28 600
    01/21/12 Expired 25 Jan 9 Call 250
    01/21/12 Expired 100 Jan 10 Call 1200
    02/14/12 Bot close 25 Feb 8 Put .02 500
    03/17/12 Expired 50 Mar 9 Call 300
    03/28/12 Dividend .0425 on 13000 shares 552.5
    04/21/12 Expired 15 Apr 6 Put 405

    Total Return P/L on closed trades 7996.25

    Long 13000 XRX avg/share 9.9 (128735)

    Stock closed 06/15/12 7.79

    Short 20 Jul 7 Put 540
    Short 20 Jul 8 Put 1160
    Short 50 Jul 10 Call 600

    Net Position Exposure

    Covered Calls 5000 shares
    Naked Puts 4000 shares

    Will be opening more CC’s on any type of strength.

    This trade has been a loser and using naked put options has increased the losses when it broke down from 9.

    Added a few more short puts for Jul @ 7. This trade has tied up quite a bit of capital for a very long time and am still looking for the exit as option premium is very little on the call side to generate income especially with the stock underwater from my cost basis.

    Good Trading

    dealmakr

  3. dealmakr said

    Here’s one that didn’t work out

    Position updated SVU 06/12/12

    SVU looks like its trading as a BK candidate.

    I posted that last expiration and watched as the stock continued to weaken and short interest to now grow to 103mm shares. The big jump in short interest over the last 2 reporting periods made me rethink the position and decide to exit as to me the risk now outweighs the reward of trying to hang on to the position. It was a tough decision. With the latest large increase in the short position, I have to maybe give credence that someone knows something more than my analysis can overcome. In taking a loss here and using the premium and dividend income to offset the stock loss, it looked to be about a loss of 17% or so on capital.

    Taking emotion out of the trade is tough especially when you can get traders remorse on any little bounce, but in these times capital preservation must come first and there is always another and maybe better trade to make if you have the ammo.

    Good Trading

    dealmakr

    07/27/11 Bot 4000 SVU 8.70 (34800)
    07/27/11 Sold 40 Aug 9 Call .30*
    08/01/11 Sold 25 Aug 8 Put .25*
    08/10/11 Sold 25 Aug 7 Put .40*
    08/10/11 Sold 25 Aug 7 Put .46*
    08/10/11 Sold 20 Oct 9 Call .2*
    08/12/11 Sold 20 Oct 9 Call .31*
    08/12/11 Sold 50 Aug 6 Put .06*
    08/19/11 Bot 2500 SVU 8 (20000) exercise*
    08/26/11 Sold 20 Sep 7 Put .46*
    08/31/11 Sold 25 Sep 8 Call .35*
    09/29/11 Sold 25 Oct 8 Call .10*
    10/24/11 Sold 20 Nov 8 Put .36*
    10/26/11 Sold 40 Nov 9 Call .15*
    11/04/11 Sold 20 Jan 7.5 Put .75*
    11/10/11 Sold 20 Dec 8 Put .50*
    11/17/11 Sold 40 Jan 9 Call .35*
    01/09/12 Sold 20 Jan 7.5 Put .16*
    01/20/12 Sold 40 Apr 8 Call .20*
    01/21/12 Bot 2000 SVU 7.50 (15000) exercise
    01/31/12 Sold 20 Apr 8 Call .20*
    04/23/12 Sold 60 May 7 Call .10*
    05/09/12 Sold 50 May 5 Put .06*
    05/17/12 Sold 100 May 5 Put .10*
    05/19/12 Bot 15000 SVU 5 (75000)
    05/30/12 Sold 50 Jun 5 Call .06
    05/31/12 Sold 100 Jun 5 Call .05

    Closed trades Profit/Loss

    08/19/11 Expired 50 Aug 6 put 300
    08/19/11 Expired 40 Aug 9 Call 1200
    08/19/11 Exercise 25 Aug 8 Put 625
    08/19/11 Bot close 50 Aug 7 Put .05 1900
    08/30/11 Dividend on 6500 SVU 568.75
    09/17/11 Expired 20 Sep 7 Puts 920
    09/17/11 Expired 25 Sep 8 Calls 875
    10/22/11 Expired 25 Oct 8 Call 250
    10/22/11 Expired 40 Oct 9 Call 1020
    10/24/11 Sold 2500 SVU 8.10 250 (bot 08/19/11 @ 8)
    11/19/11 Expired 20 Nov 8 Put 720
    11/19/11 Expired 40 Nov 9 Call 600
    11/29/11 Dividend on 4000 SVU 350
    12/16/11 Bot close 20 Dec 8 Put .50 (0)
    12.16.11 Bot close 20 Jan 7.5 Put .50 500
    01/21/12 Exercised 20 Jan 7.5 Put 320
    01/21/12 Expired 40 Jan 9 Call 1400
    02/28/12 Dividend on 6000 SVU 525
    04/21/12 Expired 60 Apr 8 call 1200
    05/19/12 Exercised 150 May 5 Put 1300
    05/19/12 Expired 60 May 7 Call 600
    05/30/12 Dividend on 21000 SVU 1837.5
    06/12/12 Sold 21000 SVU 4.09 (85890)
    06/16/12 Expired 150 Jun 5 Call 800***************

    Total return P/L on closed trades 18061.25

    Loss on stock 124800-85890 = (38910)

    Total loss on trade (20848.75)

    Position Closed with the presumption that the Jun 5 calls will bingo. If the stock rallies north of 4.5 will bring them in also for an additional loss of 750 on the position.

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