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
01/15/2010 – ThetaOptions IRA Portfolio – Intel JAN 21 Rolled
Well INTC posted some impressive numbers during their earnings report last night, but their stock & rest of the market is selling of today. Now we can’t understand why the market would sell-off on such great news, we were beginning to think everyday is an up day in this market 
Anyhow, we rolled our JAN short CALL to FEB at no cost. Although it’s a nice healthy credit roll at the present time. It’s truly amazing that the entire position is UP today with the stock down 45 cents. That’s the power of using an Option spread while getting the ‘Volatility Crush’ from earnings!
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
Position:
We bought (2) 18 PUTs today, which reduced our IRA margin by $1800 per contract
Trade Note:
The JAN/APR diagonal spread started out slightly bearish, but now we’ve shifted into FULLY bullish stance without any REAL additional cost. Our next move will be to ROLL to March for credit, thereby reducing ALL the original COST assoc with the original JAN/APR diagonal order.
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.