OPNewsletter – May’09 (+9.48%), Jun’09 (Open)

OPNewsletter closed May’09 for +9.48% x-commissions and +6.76% inclusive of commissions. As I stated earlier, after many months of waiting, we crossed our 60% portfolio investment target. It’s always an advantage if the capital was preserved. Yes we did have a few months of low returns, but that preserved capital is an out performance (vs general markets) already and now we can start using this preserved capital for further gains vs. wasting energy in recouping the losses. Just 1 single covered call (X) was more than enough to cover OPN fee  (and triggered no adjustment needs).

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Maximum investment incurred was +64.4% (reached on April 23) and since then we continued to use that as basis for returns calculation even though we were generating credit since then for the next two weeks. Here is the tally-

  • IWM, USO and UPS were almost breakeven
  • USO was closed for +0.8% (after Mar @ >+22% and Apr@>+13%)
  • GDX closed for +18.38% in May
  • X closed for 23.29% gains
  • HAL was closed for +22.69%
  • AMZN was closed for +15.83% and
  • IBM was closed for +23.01%

This doesn’t include bonus speculative trade on Visa earnings (V) that was closed for +35%, CSX , GS, GOOG and others some of which didn’t make much money or closed for breakeven. We have already opened our June’09 income portfolios and invested almost 35-38% of capital. After a few months gap, we opened a 160 points wide RUT Iron condor for $2.20 credit which is already making money in two days.

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Profitable Trading, OP


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