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
01/15/2010 – ThetaOptions Margin Portfolio – FSLR Strangle Adjustment
With FSLR showing signs of weakness these past few days….the (MP) is going to move that single short PUT down by using a back/ratio order.
Filled Order:
SOLD -1 1/2 BACKRATIO FSLR 100 FEB 10 105/90 PUT @-.21 debit
Position: We now have -2 FEB 90 Short PUTs, Theta is slowly increasing & our Delta is still in check.
Margin Explained: Cost the position a $1000 in margin to make the adjustment.
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