AMZN Position Closed
November 20th, 2009, 3:09 pm EST. Posted under Margin Portfolio (MP) by ThetaTrader.
Post Tags: , AMZN, CLOSED
11/20/2009 - ThetaOptions Margin Portfolio – AMZN CLOSED – Profit $90
Finally our persistence paid off. One of our diagonals we opened last week paid off pretty well today & we were able to buy back our “naked caller” for $14. Remember we sold the 120 caller for $9 & we rec’d $240 for the original “Bear Call Spread” ….so that part of the trade was a $260 loss; which we knew up front. However the diagonals we placed manage to turn the entire trade into a profitable one.
Nov/Dec 09:
Buy To Close: (1) 115 NOV “Naked” Call – $14.00 debit : Loss $260 on the Bear Call Spread
Sell To Close: (2) 130/135 NOV/DEC Call Side Diagonal – $2.60 credit : Profit $175 each
Sell To Close: (2) 130/135 NOV/DEC Call Side Diagonal – $0.75 credit : Broke Even
Current Position: None
Overall Trade: This trade took a turn for the worse, but we manage to hang around long enough to squeak out a small profit. We tried to buy back the 115 caller for $11 after selling the $120, but that order never filled. It still HARD to belive that AMZN can hold onto it’s 40% gain, that’s truly remarkable. We might open new position on them soon.