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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (4993)1/21/2012 9:22:25 AM
From: dealmakr   Read Replies (1) of 5891
 
HCBK position 01/21/12

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.

Another Energizer Bunny that kept on running up this Jan cycle. Even though the premise of options writing keeps your profits IF they come at a fixed rate, its still tough to watch at times when the stock keeps going, but thats part of the game so NO looking back. Will be looking to rebuild the position a bit here by writing more puts. For the stock sales, I kept the 3800 lot and the 2700 lot just to make things easier, it all comes out in the wash anyway.

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 (31450) (1200 exercised @6 Dec / balance 3800 shares)(23902)
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
11/09/11 Sold 25 Dec 6 Call .25*
11/09/11 Sold 25 Dec 6 Put .45*
11/14/11 Sold 25 Jan 6 put .60*
11/16/11 Bot 5000 HCBK 5.75 (28750)*
11/15/11 Sold 75 Dec 6 Call .15*
11/17/11 Sold 50 Dec 6 Call .15*
11/25/11 Sold 100 Jan 6 Call avg .108*
11/25/11 Sold 25 Apr 6 Call .31
11/28/11 Bot 2500 HCBK 5.24 (13100)*
11/29/11 Sold 50 Jan 6 Call .10*
11/29/11 Sold 25 Jul 5 Put .75
11/30/11 Bot 2500 HCBK 5.32 (13300)*
12/01/11 Bot 2500 HCBK 5.61 (14025)*
12/01/11 Bot 2500 HCBK 5.68 (14200)*
12/02/11 Sold 25 Jan 6 Call .25*
12/06/11 Sold 25 Jan 6 Call .30*
12/06/11 Bot 2500 HCBK 5.97 (14925)*
12/07/11 Sold 25 Jan 6 Call .30*
12/08/11 Sold 25 Jan 6 Call .25*
12/12/11 Sold 25 Jan 6 Call .21*
12/13/11 Sold 25 Jan 6 Call .25*
12/14/11 Bot 5000 HCBK avg 5.895 (29475)*
12/16/11 Bot 2500 HCBK 6.05 (15175)*
01/04/12 Bot 2700 HCBK 6.57 (17739)
01/04/12 Sold 20 Apr 7 Call .30
01/04/12 Sold 25 Jul 6 put .45
01/06/12 Sold 25 Apr 6 Put .25
01/18/12 Sold 25 Apr 6 Put .20

Closed trades Profit/Loss

11/02/11 Dividend .08 on 25000 shares 2000
11/19/11 Expired 200 Nov 6 Call 3000
12/14/11 Bot close 25 Dec 6 Put .25 500
12/17/11 Expired 50 Dec 5 Put 750
12/17/11 Expired 38 Dec 6 Call
12/17/11 Exercised 162 Dec 6 Call 4875 (includes expired)
12/17/11 Sold 16200 HCBK 6.00 2652
12/29/11 Bot close 25 Jan 6 Put .14 1150
01/21/12 Expired 25 Jan 5 Put 625
01/21/12 Exercised 300 Jan 6 call 5480
01/21/12 Sold 30000 HCBK 6 7550

Total return P/L on closed trades 28582

Long 6500 HCBK avg/share 6.41 (41641)

Stock closed 01/20/12 7.10

Short 50 Apr 6 Put 1125
Short 25 Apr 6 Call 775
Short 40 Apr 7 Call 1100
Short 25 Jul 5 Put 1875
Short 25 Jul 6 Put 1125

Net position exposure

Covered calls 6500 shares
Naked puts 10000 shares

dealmakr
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