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Strategies & Market Trends : Calls and Puts for Income

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Road Walker

To: dealmakr who wrote (5876)	9/21/2014 11:27:17 AM
From: dealmakr	1 Recommendation Read Replies (1) of 5891

09/20/14 FMER is what you might call a super regional bank or maybe a money center, asset size puts it into the about 24th place for US banks. Dividend yield around 3.7% and the stock got way ahead of itself late last year and into the early part of this year. Now that it has come in quite a bit decided to put on a trading position and am willing to adjust as the stock trades. A few overwrites on the call side that can be covered by buying additional shares or hedging with short puts. Of course while away the stock ramped up a bit and bot an additional 2000 shares to cover the Dec 17.5 Calls while still leaving 1000 unhedged. Added a few more puts and will continue to adjust the position over the next few months. 08/04/14 Bot 3000 FMER 17.16 (51480)* 08/05/14 Bot 3000 FMER 17.17 (51510) (1000 exercised 09/20 17170) Bal (34340) 08/05/14 Sold 30 Aug 17.5 Call .20* 08/05/14 Sold 30 Dec 17.5 Call .70 08/19/14 Sold 30 Oct 17.5 Call .505 avg. 08/20/14 Bot 4000 FMER 17.34 (69360) 08/20/14 Sold 40 Sep 17.5 Call .25* 08/20/14 Sold 10 Dec 17.5 Call .70 08/21/14 Sold 10 Oct 17.5 Put .60 08/22/14 Sold 10 Dec 17.5 Call .80 08/25/14 Sold 15 Mar 15 Put .45 08/27/14 Sold 10 Dec 17.5 Call .70 09/03/14 Sold 10 Oct 17.5 Put .55 09/04/14 Sold 10 Mar 17.5 Put 1.1 09/12/14 Bot 2000 FMER 18.33 (36660) Closed trades Profit/Loss 08/16/14 Expired 30 Aug 17.5 Call 600 08/28/14 Dividend .16 on 10000 shares 1600 09/20/14 Exercised 40 Sep 17.5 Call 1000 09/20/14 Sold 4000 FMER 17.5 1350 (3000 @ 17.16 08/04 / 1000 @ 17.17 08/05) Total return on closed trades 4550 Long 8000 FMER (140360) avg. 17.545 / share Short 30 Oct 17.5 Call 1515 Short 20 Oct 17.5 Put 1150 Short 60 Dec 17.5 Call 4300 Short 15 Mar 15 Put 675 Short 10 Mar 17.5 Put 1100 Stock closed 09/20/14 18.13 Good Trading dealmakr

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