104.64 (-1.14)

02/24/2010 – ThetaOptions Margin Portfolio – Initiated MAR10 naked PUT

The (MP) has initiated a slightly bullish position on FSLR for the next few weeks.   The stock is down about 35% over the past 3 months & we’re hoping to see some solid support around $100 per share.  Therefore, we’re taking on a small position by selling (2) naked PUTs this morning.  Our position will give us an additional 15% of downside protection & has the possibility to make 10% risk/reward over the next 2-3 weeks.

Filled Order:

SOLD -2 FSLR 100 MAR 10 90 PUT @1.40 credit

Position: Our Theta is $16 per day with slightly bullish delta

Starting Margin: $1800

Risk/Reward: $1800/$240 = 13% in 2-3 weeks.

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