59.60 (-0.33)

03/19/2010 – ThetaOptions IRA Portfolio – US Steel FEB/APR Calendar Closed – Profit $200

The IRA closed down the last portion of our original FEB/APR Diagonal today for $50 credit.  It turns out hat our move to lower the APR $60 strike to to $50 using a Calendar spread completely back fired on us as we painfully watch US Steel climb all the way back to $60 on APR OpEX.  We would have made another $300 had we NOT converted our original spread into a 50/50 Strike Calendar Spread .  However, we still manage to make a nice 40% profit on this trade. I still can’t believe the stock went from $65 to $43 back to $60 after their disappointing earnings call….we might need to place another bearish spread on them! Read the rest of this entry »

18.79 (+0.17)

03/04/2010 – ThetaOptions IRA Portfolio - Back-Ratio Closed – Profit $143

The IRA has closed our original Back/Ratio spread for profit….it turns out VLO never dropped deep into our spread for us to purchase the shares.  However, this is a great example of using a Back/Ratio option spread in-order to collect Theta and still maintain a profitable trade on a stock that you wish to own. 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 »

195.40 (-0.80)

02/10/2010 – ThetaOptions Margin Portfolio – Apple Strangle CLOSED – Profit $400

The (MP) bought back the Apple FEB short PUT for 0.17 debit.  This concludes our FEB strangle on Apple. Profit $400 in (4) weeks. Read the rest of this entry »

01/13/2010 – ThetaOptions Margin Portfolio - POTash CLOSED Profit $475

We decided to give up on our day order we placed this morning and close down the (2) diagonals in order to preserve our profits.  This trade had Risk/Reward profit of about 7.5% within (8) days. Read the rest of this entry »