IRA – Intel JAN/APR Diagonal – Closed $249 Profit
December 18th, 2009, 2:09 pm EST. Posted under Individual Retirement Account (IRA) by ThetaTrader.
Post Tags: , CLOSED, intc
22.43 (-0.24)
03/24/2010 – ThetaOptions IRA Portfolio – Intel JAN/APR Spread Closed – $249 Profit
The IRA has decided to close down our original JAN/APR Diagonal that we placed for 0.21 debit back on 12/18/2009. It’s been a fairly rough trade & we’ve badly timed several key moves; however we manage to make a few bucks on this complex (4) month spread. We feel that it’s a pretty good trade to study for those who may be considering option spread strategies within an IRA account.
Filled Orders:
SOLD -2 VERTICAL INTC 100 APR 10 20/21 CALL @.91 credit
BOT +2 INTC 100 APR 10 20 PUT @.08 debit
Position: None for the IRA Portfolio
Profit Calc:
12/18:
+(2) 20 JAN/21 APR Diagonal – 0.21 debit
1/5:
-(2) 20 FEB PUT – 0.50 credit
+(2) 20/21 JAN Vertical – 0.62 debit
1/15:
-(2) 21 JAN/22 FEB Call – 0.03 credit
+(2) FEB 18 Put – 0.03 debit
1/28:
+(2) FEB 22 Short Calls – 0.05 debit
1/29:
+(2) APR 20/21 Vertical – 0.34 debit
2/2:
+(1) FEB 20/MAR 19 Diagonal – 0.10 credit
-(1) FEB 20 Short Call – 0.35 credit
2/19:
+(1) FEB 20 Call – 0.75 debit
-(2) APR 21 Call – 0.78 credit
+(1) MAR 19 Put – 0.19 debit
-(2) APR 20 Short Put – 0.60 credit
3/24:
-(2) APR 20/21 Vertical – 0.91 credit
+(2) APR 20 Short Put – 0.08 debit
Profit: $249
January 5th, 2010 at 11:28 am
Trade Adjustment: 01/05/2010
We hate to perform this type of trade adjustment with INTC trading at $21, but we don’t want to see our JAN/APR Diagonal profit disappear. Therefore, we’re selling (2) FEB 20 PUTs naked & using the money to lift the JAN 20 call up to 21 with the intention of rolling it next week
Filled Order:
SOLD -2 INTC 100 FEB 10 20 PUT @.50
BOT +2 VERTICAL INTC 100 JAN 10 20/21 CALL @.62
Delta Change: Our trade went from -50 delta to +70 delta
January 15th, 2010 at 2:53 pm
01/15/2010 – Rolled CALLers to FEB
The IRA rolled the JAN21’s out to FEB for even money this morning.
In addition, the FEB 18 PUTs were purchased, thereby reducing the overall margin.
Filled Order:
BOT +2 INTC 100 FEB 10 18 PUT @.03 debit
SOLD -2 DIAGONAL INTC 100 FEB 10/JAN 10 22/21 CALL @.03 credit
January 28th, 2010 at 1:31 pm
01/28/2010 – 1:16 est
The IRA is buying back the (2) FEB short Calls for 0.05 debit. We will look to resale a different strike or month later on.
Filled Order:
BOT +2 INTC 100 FEB 10 22 CALL @.05
Note: We have (2) 20 short PUTs that are currently ITM. In addition, we have the (2) APR 21 long Calls; which we would like leverage soon.
February 2nd, 2010 at 2:23 pm
02/02/2010 – Trade Adjsutment
We sold a FEB 20 short Call & rolled (1) FEB 20 PUT to a MAR 19 PUT.
Filled Orders:
SOLD -1 INTC 100 FEB 10 20 CALL @.35 credit
SOLD -1 DIAGONAL INTC 100 MAR 10/FEB 10 19/20 PUT @-.10 (debit)
February 19th, 2010 at 10:58 am
02/19/10 – Trade Adjustment
We moved the entire position to APR after buying back the FEB & MAR shorts. Hopefully INTC finishes above 21 in APR.