Alcoa – JAN Short Position – CLOSED
December 22nd, 2009, 9:48 am EST. Posted under Margin Portfolio (MP) by ThetaTrader.
Post Tags: , AA, CLOSED
01/06/2010 – Margin Portfolio – Alcoa Short Position Adjusted
What a difference ONE day can make; yesterday Alcoa was trading around $16 & today it’s at $17. Obviously this NOT good for our (2) 16 Short CALLers, so we’re going to Double Down (DD) & selling (4) JAN 17.50 Callers naked for 0.38. Hopefully those clear and we can break even or make a little bit of money on this entire trade.
Filled Order:
Position: Our margin has risen from $670 to $2250. It’s really only up $400 because we’ve just added (4) 17.50 * $300 margin pc. Short callers consume more margin as they become deep-in-money.
January 6th, 2010 at 3:07 pm
01/06/2010 – Trade Adjustment
We’re selling the 17.50 Callers now.
January 12th, 2010 at 1:25 pm
JAN10 Alcoa Trade Closed.
Filled Order:
Buy to Close: (8) JAN10 17.50 Call – 0.02 debit
Profit: $223