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Strategies & Market Trends : Option Strategies
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To: Bridge Player who wrote (1719)8/12/2016 4:26:26 PM
From: Bridge Player  Read Replies (1) of 2591
 
A little strength in VXX near the close enabled closing the short 8/12 10 puts at cost of .77 to avoid assignment. No new calls written; presently awaiting volatility increase to write new 40.00 or higher calls. For now, holding VXX (1/4 of pre-split shares) at the loss.

Update VXX trades:

Cost Lot 1: 11.64
Cost Lot 2: 11.00 (Put assignment)
Avg Cost: 11.32

Premium written:
7/22 12 calls: .29
7/29 11.5 calls: .25
7/29 11 puts: .24
8/5 10.5 calls: .21
8/5 10 puts: .20: Bot back at .50
8/12 10 puts: .63: (Bot back at .77)
8/12 10 calls: .14
Total premium written: 1.46 - .77 to close 8/12 puts = .69 net

Net cost: 11.32 - .69 = 10.63 equivalent to 42.52 on reverse split shares.

Price at close 8/12: 36.94 (adjusted 1 for 4 reverse) equivalent to 9.234

Net loss at close: 42.52 - 36.94 = 5.58; equivalent to 1.395 on pre-split shares.

All trades exclude small commissions at Interactive Brokers.
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