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Strategies & Market Trends : Calls and Puts for Income

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To: dealmakr who wrote (4797)	2/19/2011 8:05:33 AM
From: dealmakr	Read Replies (3) of 5891

Updated position EK 02/19/11 After selling puts on EK in Jan at the 5 strike that expired and won't be counted in the total trading position, I am posting this as a position that went against me. The first blow was EK not gaining favorable status on patent resolution in the suit against AAPL & RIMM. The next was a selloff after earnings. It now remains to be seen as to how to work this position from the standpoint of how to try and work out of the hole or to close it out and take the loss. Comments welcome. 01/05/11 Sold 50 Feb 5 Put .20* 01/05/11 Sold 50 Jul 4 Put .25 01/25/11 Sold 50 Feb 5 Put avg .555* 01/26/11 Sold 50 Jul 4 Put .70 02/07/11 Sold 50 Feb 3.5 Put .06* 02/08/11 Sold 50 Feb 3.5 Put .06* Closed trades Profit/Loss 02/16/11 Bot close 100 Feb 5 Put 1.34 (9625) 02/19/11 Expired 100 Feb 3.5 put 600 Total return on closed trades (9025) Short 100 Jul 4 put 4775 Net Position Exposure Naked puts 10000 shares The Feb puts opened at the 3.5 strike were done to give me a DCA (dollar cost average) of 4.25/share if both the 3.5 & 5 strike were exercised. Well as the stock appeared to be holding above the 3.5 strike, decided to take the upfront loss on the Feb 5 puts as the 3.5's looked to bingo. will probably be opening another round in the Mar cycle at that level. Good Trading dealmakr

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