543.36 (+10.03)

03/09/2010 – ThetaOptions Margin Portfolio – BIDU MAR10 Short Closed – $380 Loss

OK, selling naked options becomes way too risky when a stock moves from 380 to 550 in 8-10 weeks.  It’s better to take our loss now, rather than adjust this and risk a huge loss.  Our mental stop loss on this option was $8; we didn’t want to lose more than $4 and that’s where we’re at this morning.

Filled Order:

BOT +1 BIDU 100 MAR 10 550 CALL @7.90 debit

Position: Closed

Profit/Loss: Sold Call $410 & closed for $790 = $380 loss

15.28 (-0.21)

02/18/2010 – ThetaOptions Margin Portfolio – Closed Trade – Profit $350

Ok, that was fun. We bought back the last lot of our naked callers this morning and successfully shorted UAUA again. That’s THREE successful missions on shorting them over the past four months. Our profit this round was $350, and we made some adjustments by leaving our original short strike while the stock was rising during the madness. We still can’t believe the stock rose 35% in 5 trading days! Read the rest of this entry »

CAT – 51.42 (+0.02)

02/05/2010 – ThetaOptions IRA Portfolio - CAT Diagonal CLOSED - Profit $92

We decided to cash out the CAT diagonal this morning.  The IRA managed to make $92 from $500 risk within (15) days.  That’s 18% return on investment in a IRA account within (15) days.  We think that’s a pretty good return. Read the rest of this entry »

438.48 (-4.75)

02/09/2010 – ThetaOptions Margin Portfolio – BIDU CLOSED – Profit $465

We finally were able to buy back the FEB short caller.  And just in a nick of time before earnings tonight.  There’s really no sense chances $35 on $4000 in margin. Read the rest of this entry »

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 Read the rest of this entry »