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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (5215)7/21/2012 6:50:40 AM
From: dealmakr   Read Replies (1) of 5891
 
07/21/12 Updated Position ETFC

06/19/12 Bot 3000 ETFC 7.91 (23730)
06/19/12 Sold 30 Jul 8 Call .37*
06/19/12 Sold 30 Jul 7 Put .12*
06/21/12 Bot 2000 ETFC 7.83 (15660)
06/21/12 Sold 20 Jul 8 Call .32*
06/22/12 Bot 2500 ETFC 7.78 (19450)*
06/22/12 Sold 25 Jul 8 Call .30*
06/22/12 Sold 30 Jul 7 Put .12*
06/26/12 Sold 20 Oct 7 Put .56
07/02/12 Sold 10 Oct 8 Call .71
07/06/12 Sold 10 Oct 8 Call .72
07/09/12 Sold 20 Aug 8 call .26
07/10/12 Bot 2000 ETFC 7.63 (15260)
07/16/12 Bot 2000 ETFC 7.86 (15720)
07/20/12 Sold 50 Aug 8 Call .15

Closed trades Profit/Loss

07/20/12 Sold 2500 ETFC 7.50 (700)
07/21/12 Expired 60 Jul 7 Put 720
07/21/12 Expired 75 Jul 8 Call 2500

Total return P/L on closed trades 2520

Long 9000 ETFC avg/share 7.82 (70370)

Stock closed 07/20/12 7.39

Short 70 Aug 8 Call 1270
Short 20 Oct 7 Put 1120
Short 20 Oct 8 Call 1430

Net Position Exposure

Covered Calls 9000 Shares
Naked Puts 2000 Shares

Earnings to me came out ok, but showed continued weakness in DART's. The bank side continues to contract by about 200mm per month and losses there are still looking manageable. This one also sold off with the banks and decided to reduce the position by 2500 shares with the premise that if things continue to weaken can buy them back cheaper or write additional NP's. Longer term timeframe should IMHO work out ok.

Good trading

dealmakr
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