67.92 (-0.26)

03/30/2010 – ThetaOptions IRA Portfolio - IWM MAR QTR Closing orders

With one day left to go before the MAR Qtr options expire, the IRA portfolio has decided to close out the BEAR Call spread now & to roll (2) of our original MAR/APR 67/69 diagonals into a FREE 69/70 bull call spread for APR.  We cashed out our other diagonal for about 0.35 profit, but we used that to buy back the short put leverage against our LEAP. So all our effort to desperately  free our MAR 62 short caller has paid off on 3/5. Basically we’ve removed the short call & gained 400 points in delta after today.  The best part now, is that we have (2) APR bull call spread & we’ll probably initiated (1) PUT back/ratio in-order to capture $1 or so profit over the next 3 weeks.  In addition, our LEAP put is ATM (at-the-money) now, so we can close the entire trade now or roll the LEAP PUT up (5) strikes for 1/2 the cost, thereby widening our original 45/70 strangle spread of $31 debit. This would give us a $30 spread for $33.50 debit; that means we only need to collect $3.5, which we’re pretty close too already.  Read the rest of this entry »

11/30/2009 – ThetaOptions IRA Portfolio – IWM Long Strangle

Today we’re going to open a LONG term “Strangle” on the IWM using our IRA Portfolio.  This trade involves the opening of  a “Deep In The Money” option CALLPUT LEAPs, along with the sell of monthly options near-the-money.  We’ll track this trade separately against the front month positions, buy scoring this trade as a loss of the spread – premium we paid or $6 loss.  Therefore we have 12 months to collect $6 to breakeven; and we need to roll our front month options safetly to the next month.  Basically we’re performing a monthly ‘Double Diagonal’ against a long term In-The-Money LEAPs. Read the rest of this entry »

Closing Order>>

11/30/2009 – ThetaOptions IRA Portfolio – AMZN Diagonal Initiated

We’re going to attempt another diagonal options trade on AMAZON for the month of December. However, this time we’re going to place the order in our IRA account. We know from last month that we can make $50 profit if AMZN finishes at $135. Of course we would rather see it finish at 130. Read the rest of this entry »

<<Initial Trade

01/15/2010 – ThetaOptions IRA Portfolio - DIA JAN10 Spread CLOSED – Profit $204

We’ll we finally made it to JAN10 OpEx & it turned out those 92/101 Bull Call Spreads we had were worth the FULL $9.  We existed that portion of trade (8) weeks ago for $8 credit and kept pressing our DIA PUTs up in hopes of a market correction by JAN10; obviously that never happened.  However, this trade illustrates how we were able to keep the entire trade profitable while taking a bearish stance on the market’s nonsense.  Overall, we’re happy with the results on this one.

Read the rest of this entry »

<<Previous Trade

No Link>>

11/24/2009 – ThetaOptions IRA Portfolio – LDK JAN11 PUTs added

LDK had a nice beat the other day, we feel fairly comfortable commenting another $1250 of buying power to purchase (500) shares at $2.50 in JAN 11.  But hopefully we keep the entire option sale. Read the rest of this entry »