Intel JAN/APR 2010 Diagonal

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IRA – Intel JAN/APR Diagonal – Closed $249 Profit

December 18th, 2009, 2:09 pm EST.   Posted under Individual Retirement Account (IRA) by ThetaTrader.
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01/05/2010 – ThetaOptions IRA Portfolio – Intel JAN Diagonal Adjusted

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 credit
BOT +2 VERTICAL INTC 100 JAN 10 20/21 CALL @.62 debit

Position:


GTC Order:

Buy To Open: (2) FEB 18 PUT – 0.05 debit

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5 Responses to “IRA – Intel JAN/APR Diagonal – Closed $249 Profit”

  1. ThetaTrader Says:
    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

  2. ThetaTrader Says:
    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

  3. ThetaTrader Says:
    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.

  4. ThetaTrader Says:
    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)

     

  5. ThetaTrader Says:
    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.

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