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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (5113)6/16/2012 5:38:01 AM
From: dealmakr   Read Replies (1) of 5891
 
Updated position 06/16/12 SOHU

03/23/12 Bot 1000 SOHU 55.2
03/23/12 Sold 10 Apr 57.5 Call 2.00*
03/23/12 Sold 20 Apr 47.5 Put .60*
03/26/12 Sold 10 Sep 47.5 Put 3.90
03/30/12 Sold 10 May 47.5 Put 1.40*
04/04/12 Sold 10 Apr 47.5 Put .60*
04/04/12 Sold 10 Sep 47.5 Put 5.00
04/10/12 Sold 5 Apr 47.5 Put .91*
04/10/12 Sold 10 Sep 47.5 Put 6.10
04/10/12 Sold 10 Apr 55 Call .35*
04/20/12 Sold 10 May 57.5 Call 1.20*
05/17/12 Sold 10 Sep 40 Put 3.90
05/21/12 Sold 10 Jul 55 Call .60
05/21/12 Sold 10 Dec 25 Put 1.20

Closed Trades Profit/Loss

04/10/12 Bot close 10 Apr 57.5 Call .20 1800
04/21/12 Expired 35 Apr 47.5 Put 2255
04/21/12 Expired 10 Apr 55 Call 350
05/17/12 Bot close 10 May 47.5 Put 3.2 (1800)
05/19/12 Expired 10 May 57.5 Call 1200

Total return P/L on closed trades 3805

Long 1000 SOHU (55200)

Stock closed 06/15/12 43.62

Short 10 Jul 55 Call 600
Short 10 Sep 40 Put 3900
Short 30 Sep 47.5 Put 15000
Short 10 Dec 25 Put 1200

Net position exposure

Covered Calls 1000 shares
Naked Puts 5000 shares

The stock did go up to near the 47.5 strike on 06/07 and was looking to see if it could cross over. The plan was to buy back in the short Sep 47.5 puts and maybe write a few naked calls higher than 55, but it couldn't hold. Will still look to buy in the 47.5 puts or maybe roll a few down and out to reduce exposure. The Dec 25 puts were opened as that is about where the cash position of the company lies. The Jul 55 calls will probably be bot back in and a new round of CC's opened.

dealmakr
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