Comments on: Weekly Update on May’07 Income Trades – Portfolio up 10%

By: Weekly Update on May’07 Income Trades - Portfolio up 20% | OptionPundit

Sun, 13 May 2007 00:39:05 +0000

[...] Here is the 4th weekly update on my income portfolio that I shared earlier. The original post can be found here and the previous week’s update and adjustments can be found here, here and here. [...]

By: Weekly Update on May’07 Income Trades - Portfolio up 14% | OptionPundit

Sat, 05 May 2007 04:29:04 +0000

[...] Here is the 3rd weekly update on my income portfolio that I shared earlier. The original post can be found here and the previous week’s update and adjustments can be found here and here. [...]

By: OptionPundit

OptionPundit — Tue, 01 May 2007 11:03:38 +0000

Couple of updates to these trades:

Trade-1 (RUT Iron condor). I closed my BPS leg of the IC by bying it back for $0.20/spread. Than reduced my overall credit on this IC from 2.05 to 1.85. Now I am left with only May 860/870 call. Rut is currently at 814.57. 93% of chances that this leg will expire worthless.

Trade-4 OIH Portfolio : This really tested the mettle yesterday. Firstly it moved to as high as $161.50 trigering my adjustment point of $161. I bot May/Jun 165 call calendar for $2.30 as I needed posisitve delta to ride on the uptrend. I also rolled-up May 150 put to June for $1.30 credit.

HOWEVER, soonafter lunch OIH started to fall, and fall rapidly. As soon as it was below $158 that triggered another adjustment, I sold May/June $165 call for $1.90/spread.

These OIH adjustments resulted in net credit = $1.30+$1.90-$2.30=$0.90/spread. So my current investment in OIH now stands at $1585-$90=$1495

Profitable trading, OptionPundit