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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (4878)5/21/2011 6:46:54 AM
From: dealmakr   Read Replies (1) of 5891
 
Updated Position HBAN 05/21/11

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)
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 (corrected)

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

Total return on closed trades 3225

Long 22500 HBAN avg/share 6.63 (149080)

Stock closed 5/20/11 6.37

Short 25 Jul 6 Put 825
Short 25 Jul 7 Call 1125
Short 50 Jul 8 Call 800
Short 90 Oct 6 Put 3840
Short 25 Oct 7 Put 1700
Short 40 Oct 8 Call 600

Net Position Exposure

Naked puts 14000 shares
covered calls 11500 shares

Well reaching towards 7 didn't pass the test and took a thumping on Friday along with many other banks. With the dividend not being raised in the 2nd q will have to look towards the earnings report for 2Q to see if things are still on track. Also will look to write Jun 7 CC's if any premium is to be obtained.

Good Trading

dealmakr
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