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Strategies & Market Trends : Calls and Puts for Income

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To: dealmakr who wrote (4869)4/16/2011 7:25:56 AM
From: dealmakr   Read Replies (2) of 5891
 
Updated Position HBAN 04/16/11

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
03/09/11 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)

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

Total return on closed trades 2155

Long 18500 HBAN avg/share 6.64 (122800)

Short 30 May 7 Call 510
Short 25 Jul 6 Put 825
Short 25 Jul 7 Call 1125
Short 50 Jul 8 Call 800
Short 50 Oct 6 Put 2400

Net Position Exposure

Naked puts 7500 shares
covered calls 10500 shares

BAC didn't help the earnings outlook for many banks and with HBAN earnings on 04/20/11 estimated @ .12/share will wait and see how they look prior to opening more options positions. HBAN closed the week at 6.52, so a bit underwater overall. Would just love to see this stock trade between 6-7 bucks over the next year or so.

Good Trading

dealmakr
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