IRA - DIA Position

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IRA – JAN10 DIA Spread CLOSED

November 25th, 2009, 3:31 pm EST.   Posted under Individual Retirement Account (IRA) by ThetaTrader.
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01/11/2010 – ThetaOptions IRA Portfolio - DIA JAN PUT Adjustment

Well, just for fun we’re going to adjust the 103/101 BEAR PUT spread into a broken wing butterfly for the last (4) days of OpEx.  This trade will cost us some of our profits, but it could pay off if the DIA starts to sell-off later in the week.  Our sweet spot will be 101 by next Friday; although I doubt we will keep it that long if the DIA’s actually do drop!

Filled Order:

BOT +3 DIA 100 JAN 10 98 PUT @.04 debit  (we need these options first)

SOLD -1 2/5 BACKRATIO DIA 100 JAN 10 105/103 PUT @ -.15 (debit)

Position: -41 delta with -14 Theta isn’t that great,  but at least we have a chance at getting some of our profits back here!

Contracts in JAN11:

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5 Responses to “IRA – JAN10 DIA Spread CLOSED”

  1. ThetaTrader Says:
    December 16th, 2009 at 3:06 pm

    We bought back the DEC 98 Short Puts for 0.02 debit

    Filled Order:

    BOT +5 DIA 100 DEC 09 98 PUT @.02

  2. ThetaTrader Says:
    December 16th, 2009 at 3:53 pm

    JAN PUT adjustment -

    Filled Order:

    We’re moving the JAN 98’s PUTs up to the 101 &amp we’re paying for it with (4) DEC Quarterlys, which has (15) days left to expiration.

    Filled Orders:
    BOT +5 VERTICAL DIA 100 JAN 10 101/98 PUT @.45
    SOLD -4 DIA 100 (Quarterlys) DEC5 09 101 PUT @.42

    Note:
    We’re leaving (1) JAN 101 PUT uncovered.

     

  3. ThetaTrader Says:
    January 11th, 2010 at 1:14 pm

    01/11/2010 – Trade Adjustment

    Changing the BEAR PUT spread into a Broken Wing Butterfly.  We will let this trade expire worthless if the DIA finishes above 105 by Friday.

  4. ThetaTrader Says:
    January 14th, 2010 at 11:00 am

    01/14/2010 – Trade Adjustment

    We’re taking a chance & buying (2) 106 PUTs for 0.15 debit.

    In addition we have a day order to sell the (2) 105’s for 0.18 credit

  5. ThetaTrader Says:
    January 15th, 2010 at 11:59 am

    01/15/2010 – Filled Closing Order

    Wow, how exciting….we made 100% return on investment on our DIA 106 gamble from yesterday.  A whole $30 profit!

    Filled Order:
    SOLD -2 DIA 100 JAN 10 106 PUT @.33 credit

    Note: We still have (2) 105 Put’s…maybe we can sell those for 0.10 credit today.

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