First Solar FEB 2010 Strangle – Profit $248
January 5th, 2010, 10:54 am EST. Posted under Margin Portfolio (MP) by ThetaTrader.
Post Tags: , CLOSED, FSLR
125.44 (+1.22)
02/18/2010 – ThetaOptions Margin Portfolio – FEB FSLR Strangle Closed
There no sense waiting for the earnings report tonight, so the (MP) decided to buy back the short PUTs now. Although we seriously doubt the stock will drop below $90 tomorrow 
We original opened this wide strangle for $300 credit & made one adjustment a few weeks ago.
Filled Order:
BOT +2 FSLR 100 FEB 10 90 PUT @.10 debit
Position: None
Risk/Reward:
$2500/$250 is 10% within 6 weeks. That’s fairly nice return for the (MP)
Trade Note:
The 165 short caller was bought back for 0.11 debit on 2/2/10.
January 15th, 2010 at 12:37 pm
01/15/2010 – Trade Adjustment
The (MP) is using a back/ratio to move that (-1) FEB 105 Short PUT out of the way.
Filled Order:
SOLD -1 1/2 BACKRATIO FSLR 100 FEB 10 105/90 PUT @-.21 debit
January 22nd, 2010 at 12:35 pm
01/22/2010 – Trade Note
FSLR @ 114 down $5 today.
Had we waited to adjust the 105 PUT today, it would have cost us $1.30 to issue that 105/90 back/ratio instead of 0.21 cents we paid on the 01/15. In addition, FSLR would need to fall another 20% from here before we really start to worry about those naked PUTs, but then again wouldn’t you think that the stock might be worth $90, if they were just trading at $140 a few weeks ago.
- ThetaTrader
February 2nd, 2010 at 12:00 pm
02/02/2010 – 11:59 est
We closed the FEB 165 Short Call for 0.11 debit
February 18th, 2010 at 5:21 pm
02/18/2010 – Closed Trade – Profit $248