IRA – Potash Diagonal Closed
January 7th, 2010, 3:16 pm EST. Posted under Individual Retirement Account (IRA) by ThetaTrader.
Post Tags: , CLOSED, POT
105.11 (-4.40)
01/28/2010 – ThetaOptions IRA Portfolio – Potash FEB/MAR Diagonal CLOSED – $5
Potash is selling off today after their reported earnings miss, therefore our diagonal we placed (14) days ago isn’t going to be profitable. Rather than risk $500 to break-even on this trade; we decided to shut it down now. Our total loss on the trade was $5 & unfortunately it counts against our profitable track record 
Filled Orders:
BOT +1 POT 100 FEB 10 135 CALL @.05 debit (9:58)
SOLD -1 POT 100 MAR 10 140 CALL @.30 credit (3:07)
Position:
Profit/Loss Calc: $5 Loss
1/7/10 – 0.30 debit
1/28/10 – 0.25 credit
Trade Note:
There was no sense in selling the MAR 135 for 40-50 cents to break-even, becasue of the risk/reward factor. We can find a better usage of our margin.
Pages: 1 2
January 8th, 2010 at 12:54 pm
testing recent comment?
January 28th, 2010 at 3:36 pm
01/28/2010 – 3:07 est
We’ll that was fun, we manage to sell the MAR contract for 30 cents and only loose $5 on that spread. We’re fairly happy with that!
Filled Order:
SOLD -1 POT 100 MAR 10 140 CALL @.30 credit