Hi Maurice, …
Model portfolio is on the move …
Message 16830817
The 20 contracts of NEM (.nemmd) January strike 20 Puts expired worthless:0)
Given that I had shorted a bunch of covered June Call 20 (.nemfd) at USD 2.4/share equivalent on the 23rd for my real portfolio, I see no reason why I do not do same for Model Portfolio on the same date. Shall we say 20 contracts? We pocket USD 4,775 net of USD 25 commissions.
Message 16945416
“Today (my last night) I sold some NEM June Covered Call, strike price 20. Expecting NEM to meander at 20 between now and then, or to drop due to merger dilution”
To limit risk, we close out the 20 contracts of short June (.nemfe) Call strike 25 at USD 0.70/shr, realizing USD 450 gain (already netted USD 25 of commissions).
So, the model portfolio is well on its way:
Short Japan Yen 13,100,000 of Yen w/ interest rate at 1.125% per annum.
Short March (.nemow) Put strike 17.5, 10 contracts
Short June (.nemrw) Put strike 17.5, 10 contracts
Short January 2003 (.viemc) Put strike 15, 20 contracts,
Short June (.nemfd) Call strike 20, 20 contracts, and
Long January 2003 (.vieah) Call strike 40, 20 contracts;
Cash at USD 309,850
Gross portfolio value is at US$ 303,100, less Jyen debt valued at 134 exchange rate results in Net portfolio value of USD 205,338, a rise of 2.67% YTD on the original USD 200,000. We are on track to show a 15-20% for the year 2002, trading just NEM and its derivatives, backed by Aztec relic only ;0)
The real portfolio is on the move as well:
Message 16941878
Message 16942054
Message 16945416
Chugs, Jay |
