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Strategies & Market Trends : Calls and Puts for Income

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To: dealmakr who wrote (5715)	7/19/2013 9:58:59 AM
From: dealmakr	Read Replies (1) of 5891

Updated position VELT 07/18/13 Position just about closed 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) 07/18/13 Sold 31500 VELT avg 1.06 33390 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 07/20/13 Expired 75 Jul 2.5 Call 375 Total return on closed trades 6455 Long 31500 VELT avg 2.50 (78900) Stock Closed 07/18/13 1.03 Short 50 Aug 2.5 Call 1000 Cost of stock (78900) Closed option trades 6455 Sale of stock 33390 Loss on trade (39055) Net Position Exposure Naked Calls 5000 shares Well this trade has turned into a debacle. Those words last month turned out to be very true. Being away from the puter on Weds and coming back to see that the stock was clobbered down to about a buck on huge volume and no published news very late in the day and searching around on the net for any snippets of why the stock got so weak, I decided to pull the ripcord and exit the trade on Thursday. The primary reason was the volume surge and selling into weakness that made me think that someone out there knows more than me about where things are headed. If selling without regard to price takes place the old BK play just starts to make me think of the odds of that taking place as maybe the company has run out of time. Wether this is true or not, the additional risk of holding a bad position and loosing possibly all invested funds was too much. I usually like to find companies that are in the unloved and out of favor sectors, but not all work out and this was one of my worst trades in the last few years as the position could not generate enough option premium or be worked out to a better advantage. By recouping invested funds and moving on to the next trade a better use of capital can be used hopefully for a better return. Good Trading dealmakr

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