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

20.75 (-0.09)

02/19/2010 – ThetaOptions IRA Portfolio – Intel FEB adjustments

We just can’t seem to get this trade right….Therefore, the IRA has decided to adjust the entire position to APR.  If INTC finishes over 21 by APR, then we’ll be happy!

Filled Orders:

BOT +1 INTC 100 FEB 10 20 CALL @.75 debit

SOLD -2 INTC 100 APR 10 21 CALL @.78 credit

BOT +1 INTC 100 MAR 10 19 PUT @.14 debit

SOLD -2 INTC 100 APR 10 20 PUT @.60 credit

Position: We moved all positions to APR. Delta 103 with 1.60 Theta

Margin Note:

The margin is $4000, because of the TWO 20 PUTs.  We’ll buy (2) 18 PUTs within the next few weeks

19.97 (+0.36)

02/02/2010 – ThetaOptions IRA Portfolio – Intel FEB adjustments

Intel has risen nearly 70 cents since our last adjustment a few days ago.  Today the IRA has decided to move (1) of the FEB short PUTs & sell (1) contract against ONE of the open long callers.  As a result, our delta has decreased 60 points & Theta is back to positive decay.

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

Position: Our Theta has went from -0.37 to +0.72, margin increased by $1900 because of our roll to MAR.

Trade Note:

The APR cost to roll from 21 to 20 is now about 0.42 cents, so we saved a little cash there. In addition, we managed to hold out & sell the FEB contract for the cost of ONE roll.  If INTC rises above 21 by FEB’s OpEx then we should be able to split our FEB 20 into (2) MAR 21′s.

INTC - 19.34 (-0.55)

01/29/2010 – ThetaOptions IRA Portfolio – Intel APR Long Calls

The IRA is going to attempt to take advantage of this sell off & roll the APR long calls now.  Hopefully we see a rebound in the stock so we can sell some Callers next week.

Filled Order:

BOT +2 VERTICAL INTC 100 APR 10 20/21 CALL @.34 debit

Position: Our delta is getting a little bit too high & our Theta value is NEGATIVE….that’s not good.  We need to sell some callers soon.

INTC – 19.90 (-0.34)

01/28/2010 – ThetaOptions IRA Portfolio – Intel FEB short Calls

As a rule of thumb; we normally buy back our short positions….especially when there is (3)weeks  left to OpEx.  So today is NO exception, we’re buying back the two FEB short callers for 0.05 debit.  As a friendly reminder, please remember that ThinkOrSwim doesn’t charge commission fees to buy back short positions of 0.05 or less…..so there’s another incentive to buy back our short callers!

Filled Order:

BOT +2 INTC 100 FEB 10 22 CALL @.05 debit

Position: Our Theta value sucks! We’ll want to sell some callers soon.

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.

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

12/18/2009 – ThetaOptions IRA Portfolio – Intel JAN Diagonal Initiated

The IRA Portfolio has entered a fairly delta neutral trade on INTC for the month of JAN by executing a small diagonal.

Filled Order:

Position:

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