Update. I sold my KWK calls a minute ago for $1.65. Let's review the benchmark transaction (PTEN) and my vehicle (KWK):
1. PTEN equity.
Long 1,000 shares of PTEN at the open, $23.93, commission of $9.95, total capital at risk: $23,939.95
Closing value at $25.13: $25,130.00
Net gain: $1190.05
Percentage gain: 5%
Current capital at risk: $25,130.00 (all)
Cash: 00.00
2. KWK options.
Long 20 KWK May 55 calls at 0.95, commissions of $25.90, total capital at risk: $1925.90
Closing value at $1.65: $3300.00
Net gain: $1348.10
Percentage gain: 70%
Current capital at risk: 00.00
Cash: $3274.00
[Note, I will be looking for an entry point to buy KWK puts later on. I closed all energy call positions this morning after amateur hour finished. Most of my focus is not on energy, though, but on recent transactions in TKLC FNM IBM reported on DB's thread.]
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