Calls and Puts for Income Message Board

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Strategies & Market Trends : Calls and Puts for Income

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To: dealmakr who wrote (4982)	11/4/2011 3:14:32 PM
From: dealmakr	Read Replies (1) of 5891

HCBK position 11/04/11 After looking deeper into this one , have decided to take a longer term play. Book value north of 10 with tangible book over 9. Bank was overleveraged on the asset side and in delevering the stock got crushed. Still a premier franchise in the metro NY area yielding north of 5% on the dividend with some fairly decent premium available for writing options. 10/26/11 Bot 5000 HCBK 5.75 (28750) 10/26/11 Bot 5000 HCBK 5.81 (29050) 10/26/11 Bot 5000 HCBK 5.84 (29200) 10/26/11 Sold 100 Nov 6 Call .15 10/26/11 Sold 50 Dec 5 Put .15 10/28/11 Bot 5000 HCBK 6.29 (31400) 10/28/11 Sold 50 Dec 6 Call .475 avg 11/01/11 Bot 5000 HCBK 5.9 (29500) 11/01/11 Sold 100 Nov 6 Call .15 11/02/11 Sold 25 Jan 5 Put .25 11/02/11 Sold 20 Apr 7 Call .25 Closed trades Profit/Loss 11/02/11 Dividend .08 on 25000 shares 2000 Total return P/L on closed trades 2000 Long 25000 HCBK avg/share 5.916 (147900) Short 200 Nov 6 Call 3000 Short 50 Dec 5 Put 750 Short 50 Dec 6 Call 2375 Short 25 Jan 5 Put 625 Short 2 Apr 7 Call 500 Net position exposure Covered calls 25000 shares Naked calls 2000 shares Naked puts 7500 shares

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