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Strategies & Market Trends : Calls and Puts for Income
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To: dealmakr who wrote (5710)6/23/2013 8:17:55 AM
From: dealmakr 1 Recommendation

Recommended By
Gottfried

  Read Replies (2) of 5891
 
Updated position VELT 06/22/13

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 Mar 2.5 Put .15* corrected from Apr
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
03/27/13 Bot 2500 VELT 1.94 (4850)
04/20/13 Bot 2500 VELT 2.50 (6250) exercise
04/23/13 Sold 50 May 2.5 Call .05*
04/25/13 Sold 50 May 2.5 call .10*
04/26/13 Sold 105 May 2.5 Call .10*
05/06/13 Sold 20 Jun 2.5 Call .20*
05/16/13 Sold 50 Aug 2.5 Call .20
05/18/13 Bot 6000 VELT 2.5 (15000) exercise

06/11/13 Sold 75 Jul 2.5 Call .05
06/11/13 Bot 2500 VELT 1.71 (4275)
06/21/13 Bot 2500 VELT 1.39 (3475)

Closed trades Profit/Loss

03/16/13 Exercised 30 Mar 2.5 Put 450
03/16/13 Expired 50 Mar 5 Call 1000
04/20/13 Exercised 25 Apr 2.5 Put 1200
05/18/13 Exercised 60 May 2.5 Put 1230
05/18/13 Expired 205 May 2.5 Call 1800

06/22/13 Expired 20 Jun 2.5 Call 400

Total return on closed trades 6080

Long 31500 VELT avg 2.50 (78900)

Stock Closed 06/21/13 1.36

Short 75 Jul 2.5 Call 375
Short 50 Aug 2.5 Call 1000

Net Position Exposure

Covered Calls 12500 shares

Well this trade has turned into a debacle. Mistake last month was waiting too long to open more CC's where some decent premium could have been generated for the Jun & Aug 2.5 calls. This company is in a very precarious state at present and the possibility of another round of dilution is there. Will be looking for the next earnings report to see if the ship can be turned around or is similar to the Titanic, have to lend credence to the CFO being able to get the turn around accomplished if the stock has any chance of recovery.

Good Trading

dealmakr
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