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Tuesday, March 19, 2024

$100K Virtual Portfolio Update – April Expirations

Our $100K Virtual Portfolio is not doing so well

Staying in cash after taking a big loss on FAZ did not turn out to be a good move as FAZ went deeper in the red and the cash didn't go up.  We had fantastic winners on our upside plays, which were:

Symbol Description QTY Price Paid Last Price Change MKT Value Profit Loss %
GENERAL ELECTRIC CO VGE1122A15 GE CALL 15 Jan 11 5 $2.24 $4.75  Stock: $19.35 $0.40 $2,375.00  Margin: $0.00 $1,255.00 112.05%
SUNPOWER CORPORATION QRU1017P19 SPWRA PUT 19 Apr 10 -5 $2.00 $0.80  Stock: $18.26 -$0.11 $400.00  Margin: $2,682.50 $600.00 60.00%
VALERO ENERGY CORP VLB1017P18 VLO PUT 18 Apr 10 -5 $1.10 $0.02  Stock: $20.36 $0.00 $10.00  Margin: $1,375.00 $540.00 98.18%
SIRIUS XM RADIO INC QXO1017P1 SIRI PUT 1 Apr 10 -50 $0.15 $0.05  Stock: $1.07 $0.00 $250.00  Margin: $1,235.63 $500.00 66.67%
MEMC ELECTRONIC MATERIALS CJC1017P12 WFR PUT 12 Apr 10 -5 $0.85 $0.01  Stock: $16.82 -$0.01 $5.00  Margin: $605.00 $420.00 98.82%
GENERAL ELECTRIC CO VGE1122M12.5 GE PUT 12.5 Jan 11 -10 $0.70 $0.29  Stock: $19.35 -$0.02 $290.00  Margin: $1,540.00 $410.00 58.57%
PROSHARES ULTRA FINANCIALS UUF1017P5 UYG PUT 5 Apr 10 -20 $0.16 $0.01  Stock: $7.75 $0.00 $20.00  Margin: $1,020.00 $300.00 93.75%
KEYCORP KEY1017P7 KEY PUT 7 Apr 10 -5 $0.45 $0.04  Stock: $8.52 $0.00 $20.00  Margin: $370.00 $205.00 91.11%

 

Clearly we should have deployed more cash!  For now we'll just worry about the adjustments as we are down $8,000 but mostly pending losses on our short-side hedge plays.  Let's try to make long and short adjustmens as follows:

  • GE - No adjustment as that's a bull call vertical with $910 of our losses coming from the Jan $17.50 calls we sold.  That will only resolve itself over time and it's one of the things you have to get used to with vertical plays as our Jan $15 calls have .40 of premium left at $4.75 while the Jan $17.50s we sold are $2.84 with $1 in premium so, on paper, we are down .60 per contract based on premium alone. 

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