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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (5671)3/15/2013 4:24:16 PM
From: dealmakr   Read Replies (1) of 5891
 
Updated position VELT 03/15/13

02/04/13 Bot 1500 VELT 3.91 (5865)
02/04/13 Sold 15 Mar 5 Call .20
02/05/13 Bot 1500 VELT 3.91 (5865)
02/05/13 Sold 15 Mar 5 Call .20
02/06/13 Bot 2000 VELT 3.90 (7800)
02/06/13 Sold 20 Mar 5 Call .20
02/06/13 Sold 60 May 2.5 Put avg .205

03/11/13 Bot 2500 VELT 3.22 (8050)
03/12/13 Sold 30 Apr 2.5 Put .15
03/15/13 Bot 5000 VELT 2 (10000)
03/15/13 Sold 25 Apr 2.5 Put .60
03/16/13 Bot 3000 VELT 2.5 (7500) exercise

Closed trades Profit/Loss

03/16/13 Exercised 30 Apr 2.5 Put 450
03/16/13 Expired 50 Mar 5 Call 1000

Total return on closed trades 1450

Long 15500 VELT 2.91 (45050)

Stock Closed 03/15/13 2.12

Short 25 Apr 2.5 Put 1200
Short 60 May 2.5 Put 1230

Net Position Exposure

Covered Calls 0 shares
Naked Puts 8500 shares

Bumped up the position a bit here and will see how things look going forward. It would be a nice coup to be called away at the March cycle, but not expecting same, then again who knows.

Well that didn't come to fruition as the earnings and outlook that came into play this week really crapped the stock. Decided to DCA down and see how it plays out over the next few months, going forward the company said on the CC that it would be getting better in the 2nd half of the year, but will take that information with a grain of salt. May look to open CC's if the stock gets some movement to the upside and try and work out of the position.

Good Trading

dealmakr
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