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Trade Details for May 2007

Published on April 15, 2007

Trade Details for May 2007

April 15, 2007

Here is a list of some of the major income trades I have opened for May 2007 and also shared 3 of these 4 for general OP Reader’s viewing:

Trade-1

  • Date: April 5-6, 2007
  • Description: Long RUT May 870 calls/May 750 puts, Short May 860 calls/ 760 puts 
  • Credit:$2.05 per trade, Margin required : $7.95 per trade
  • Profit or Loss:$0.55 or 6.9% and still open

Trade-2

  • Date: April 10-11, 2007
  • Description: Long DOW Sept 55 calls/Sept 35 puts, Short May 50 calls/ 40 puts 
  • Credit: $0.15 per trade, Margin required : $4.85 per trade
  • Profit or Loss: Flat and still open

Trade-3

  • Date: April 12-13, 2007
  • Description: Long SPY May 149 calls/May 139 put, Short May 147 calls/ 141 puts 
  • Credit: $0.95 per trade, Margin required : $1.05 per trade
  • Profit or Loss: Almost flat and still open

Trade-4

  • Date: April 12-13, 2007
  • Description: Long OIH Oct 150/155 puts, Short May 150/155 puts 
  • Debit: $1035 per spread
  • Profit or Loss: Flat and still open

Besides above trades I also have other trades that are continuing from past months. I am already 80% invested for the month of May. Speculative plays due to earnings and pinning are very small, therefore remaing cash is good enough to play an accelerator’s role should a good opportunity strike.

Profitable trading, OptionPundit

Disclaimer: Pls read terms and conditions beforehand should you decide to transact based on OP’s posts.

11 Comments

  • Avatar chiu says:

    It is a good thing to do to give detail on the trade that you are making that your readers are able to follow.

    In prospective, it is particularly interesting to have two categories of trades : income vs speculative. Income is the type that we would like to do it month after month on a high probability of success manner with reasonable risk reward ratio.

  • Avatar odaz60zy says:

    Thank you for this blog.

    Please explain “accelerator role”.

  • Avatar OptionPundit says:

    Thanks Chiu.

    ODAZ60zy, accelerator (or dampener) refers to speculative trade where I invest very low percentage of portfolio so even if I lose all that, it doesn’t affect overall portfolio very much. if it turns out to be the way I wanted, sure, it will “accelerate” portfolio returns like last month NDE, PDE, BKUNA and NEW did.

  • Avatar MikeN says:

    Thanks for the great ideas. A question re: your OIH double calendar–what made you consider the MAY/OCT vs. the MAY/JUL? I understand the chance for several more rolls inherent in the OCT date, but the risk of the additional months seems rather high unless you think OIH will stay in the “range”.

    Again, thanks for all the effort you put into these postings.

  • Avatar OptionPundit says:

    Mike, Thanks for the kind words.
    The simple idea was to maximize theta gains. Oct has less theta decay vs Jul and hence the returns are better.

  • Avatar azamaniac says:

    thank u for sharing. how do u exit your trade? say RUT, do u buy your short legs to close the trade. there is a chance of being assigned if RUT moves against your trade direction the day after expiration date.

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  • Avatar slimetar says:

    SPY is never a good candidate for IRON condors, premium isn’t there. The trades strikes Short 147 calls long 149 calls were within one standard deviation hence they got hit badly.

    I will never trade SPY for an Iron condor strikes to short premium too little.

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