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Strategies & Market Trends : Calls and Puts for Income -- Ignore unavailable to you. Want to Upgrade?

To: dealmakr who wrote (4772)	1/16/2011 8:11:09 AM
From: dealmakr	Read Replies (1) \| Respond to of 5891

Updated position BRCD 01/14/11 11/24/10 Sold 50 Dec 5 put .13* 12/01/10 Bot 5000 BRCD 5.02* 12/01/10 Bot 5000 BRCD 5.01* 12/01/10 Sold 100 Dec 5 Call .18* 12/01/10 Sold 100 Dec 5 Put .16* 12/02/10 Sold 50 Apr 5 Put .50 12/03/10 Sold 100 Jan 5 Put avg .225 12/07/10 Sold 50 Jan 5 Put .18 12/17/10 Sold 50 Jan 5 Put .19 12/17/10 Sold 50 Apr 5 Put .50 12/30/10 Sold 20 Apr 5 Put .50 12/30/10 Sold 20 Apr 7 Call .27* 01/03/11 Sold 100 Feb 5 Put avg .245 01/03/11 Sold 50 Feb 6 Call .27* 01/03/11 Bot 5000 BRCD 5.36 01/04/11 Sold 30 Feb 6 Call .30* 01/04/11 Sold 50 Jul 5 Put .53 01/04/11 Bot 5000 BRCD 5.54 01/13/11 Sold 100 Jan 6 Call .12 Closed trades Profit/Loss 12/18/10 Exercised 100 Dec 5 Call 1800 12/18/10 Sold Exercise 10000 BRCD 5 (150) 12/18/10 Expired 150 Dec 5 Put 2250 01/13/11 Bot Close 80 Feb 6 Call .35 (550) 01/13/11 Bot Close 20 Apr 7 Call .28 (20) Total Return P/L on closed trades 3330 Total Position Cost/Premium received Long 10000 BRCD (54500) avg 5.45 Short 200 Jan 5 Put 4100 Short 100 Jan 6 Call 1200 Short 100 Feb 5 Put 2450 Short 120 Apr 5 Put 6000 (corrected) Short 50 Jul 5 Put 2650 Net Position Exposure Covered Calls 10000 shares Naked Puts 47000 shares With the stock continuing to trend up, I decided to reduce duration from Feb to Jan at the 6 strike. Didn't cost too much to do it from premium received and was offset by premium written. Very large open interest on the call side of the Jan 6 strike and maybe they will expire, but if called away I didn't see the need for an additional months exposure for a little premium. The 5 puts for Jan hopefully will bingo reducing the NP exposure by about half and if the Feb 5 puts continue to decay will look to cover them up. Good Trading dealmakr