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

To: dealmakr who wrote (5037)	2/27/2012 10:19:09 AM
From: Delfino R Zavala	Read Replies (1) \| Respond to of 5891

Deal Since you are the person with the most SVU experience, what is your opinion of Jul $7 puts sold. Think they will expire worthless or will I own SVU at $6.50? Thanks Delfino

To: dealmakr who wrote (5037)	3/17/2012 5:30:15 AM
From: dealmakr	Read Replies (1) \| Respond to of 5891

Position updated SVU 03/17/12 Earnings were a disappointment and the stock sold way off from the 8+ level it was trading at. Still the same story here about the market being worried over the large amount of debt. Short interest keeps on rising and any good news that comes out will bring some relief. Sold the Apr 8 calls and even though they are below the cost basis on the 4000 piece at 8.70, the new cost basis of 8.30 and the upcoming dividend and premium received makes this kind of a flat trade. Will look to add some more CC's on any rally, hopefully for a shorter term duration. SVU clearly not a participant of the rally and the stock has weakened furthur this month. Large short interest at about 70mm shares defines the risk here and next earnings will likely tell the tale of where the stock is going. 07/27/11 Bot 4000 SVU 8.70 (34800) 07/27/11 Sold 40 Aug 9 Call .30* 08/01/11 Sold 25 Aug 8 Put .25* 08/10/11 Sold 25 Aug 7 Put .40* 08/10/11 Sold 25 Aug 7 Put .46* 08/10/11 Sold 20 Oct 9 Call .2* 08/12/11 Sold 20 Oct 9 Call .31* 08/12/11 Sold 50 Aug 6 Put .06* 08/19/11 Bot 2500 SVU 8 (20000) exercise* 08/26/11 Sold 20 Sep 7 Put .46* 08/31/11 Sold 25 Sep 8 Call .35* 09/29/11 Sold 25 Oct 8 Call .10* 10/24/11 Sold 20 Nov 8 Put .36* 10/26/11 Sold 40 Nov 9 Call .15* 11/04/11 Sold 20 Jan 7.5 Put .75* 11/10/11 Sold 20 Dec 8 Put .50* 11/17/11 Sold 40 Jan 9 Call .35* 01/09/12 Sold 20 Jan 7.5 Put .16* 01/20/12 Sold 40 Apr 8 Call .20 01/21/12 Bot 2000 SVU 7.50 (15000) exercise 01/31/12 Sold 20 Apr 8 Call .20 Closed trades Profit/Loss 08/19/11 Expired 50 Aug 6 put 300 08/19/11 Expired 40 Aug 9 Call 1200 08/19/11 Exercise 25 Aug 8 Put 625 08/19/11 Bot close 50 Aug 7 Put .05 1900 08/30/11 Dividend on 6500 SVU 568.75 09/17/11 Expired 20 Sep 7 Puts 920 09/17/11 Expired 25 Sep 8 Calls 875 10/22/11 Expired 25 Oct 8 Call 250 10/22/11 Expired 40 Oct 9 Call 1020 10/24/11 Sold 2500 SVU 8.10 250 (bot 08/19/11 @ 8) 11/19/11 Expired 20 Nov 8 Put 720 11/19/11 Expired 40 Nov 9 Call 600 11/29/11 Dividend on 4000 SVU 350 12/16/11 Bot close 20 Dec 8 Put .50 (0) 12.16.11 Bot close 20 Jan 7.5 Put .50 500 01/21/12 Exercised 20 Jan 7.5 Put 320 01/21/12 Expired 40 Jan 9 Call 1400 02/28/12 Dividend on 6000 SVU 525 Total return P/L on closed trades 12323.75 Long 6000 SVU avg/share 8.3 (49800) Stock closed 03/16/12 6.33 Short 60 Apr 8 Call 1200 Net position Exposure Covered Calls 6000 shares Good Trading dealmakr