01/12/2010 – Margin Portfolio – Alcoa Position CLOSED – Profit $223

Well looks like Alcoa disappointed investors with their earnings report yesterday.  Of course, a 10% decline in the stock price today doesn’t really matter too much after it ran UP 15% before earnings anyhow.   Needless to say, we closed down the entire position this morning after buying back the short calls for 0.02 debit.

Filled Order:

Buy to Close: (8) JAN10 17.50 Call – 0.02 debit

BOT +8 AA 100 JAN 10 17.5 CALL @.02 (our email style order)

Position: None, and our margin is at zero now.

Profit Calc: 2(60) + 4(38) – 1(33) – 8(02) = $223 Profit

Risk/Reward: $3800 (max margin point) / $223 Profit = 5.8%  for (3) weeks; although had Alcoa risen 10% we would have been forced to roll for even money to the FEB $18 callers; something we were glad to avoid!

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