Yesterday’s dip hit us in the financials.
I’m very excited to redo that WM play as it’s back to $4, which is where we made that last one our first play of the month. This virtual portfolio was also clobbered by ELN, with a $15,000 open loss on the 40 Sept $15 puts sold and we’re likely to be carrying that forward for quite a while as we try to work that off by rolling to premium. Sadly, I still really like these guys…
Otherwise we’re in excelent shape and the most important thing about a new virtual portfolio is finding a good balance and seeing what works and what doesn’t. Obviously, the WM play gave us the most bang for the buck so we’ll try to find a few more of those now that the banks are beaten down again but let’s not forget, these are risky play – that’s why there’s a big reward!
| Description |
Type |
Cost Basis |
Opened |
Sale Price |
Closed |
Days |
Gain/Loss $ % |
| AKAM |
| 20 Aug 2008 22.50 AKAM PUT (UMUTX) |
SP |
$ 700.00 |
7/31/2008 |
$ 1,890.00 |
|
14 |
|
| Total Gain/Loss for AKAM |
|
| BAC |
| 20 Aug 2008 30.00 BAC PUT (BACTF) |
SP |
$ 2,980.00 |
7/25/2008 |
$ 4,990.00 |
|
20 |
|
| Total Gain/Loss for BAC |
|
| C |
| 10 Sep 2008 17.50 C PUT (CUR) |
SP |
$ 1,240.00 |
8/13/2008 |
$ 1,290.00 |
|
1 |
|
| 10 Aug 2008 20.00 C PUT (CTD) |
SP |
$ 2,210.00 |
7/28/2008 |
$ 2,590.00 |
|
17 |
|
| Total Gain/Loss for C |
|
| ELN |
| 40 Sep 2008 15.00 ELN PUT (ELNUC) |
SP |
$ 17,600.00 |
7/30/2008 |
$ 2,590.00 |
|
15 |
|
| Total Gain/Loss for ELN |
|
| FRE |
| 20 Aug 2008 6.00 FRE CALL (FREHQ) |
SC |
$ 300.00 |
8/8/2008 |
$ 1,290.00 |
|
6 |
|
| 2000 Freddie Mac Corp. (FRE) |
LS |
$ 11,010.00 |
8/8/2008 |
$ 11,100.00 |
|
6 |
|
| 40 Aug 2008 6.00 FRE PUT (FRETQ) |
SP |
$ 2,400.00 |
8/6/2008 |
$ 1,190.00 |
|
8 |
|
| Total Gain/Loss for FRE |
|
| HOV |
| 20 Aug 2008 7.50 HOV PUT (HOVTU) |
SP |
$ 1,400.00 |
7/24/2008 |
$ 1,990.00 |
|
21 |
|
| 20 Aug 2008 7.50 HOV CALL (HOVHU) |
SC |
$ 710.00 |
7/24/2008 |
$ 1,190.00 |
7/29/2008 |
5 |
|
| 2000 Hovnanian Enterprises Inc. (HOV) |
LS |
$ 14,270.00 |
7/24/2008 |
$ 13,880.00 |
|
21 |
|
| Total Gain/Loss for HOV |
|
| SIRI |
| 10000 Sirius Satellite Radio (SIRI) |
LS |
$ 14,810.00 |
7/30/2008 |
$ 13,800.00 |
|
15 |
|
| Total Gain/Loss for SIRI |
|
| WFR |
| 10 Aug 2008 45.00 WFR PUT (WFRTI) |
SP |
$ 600.00 |
7/24/2008 |
$ 4,240.00 |
|
21 |
|
| Total Gain/Loss for WFR |
|
| WM |
| 20 Aug 2008 4.00 WM CALL (WMHH) |
SC |
$ 1,010.00 |
7/24/2008 |
$ 1,490.00 |
7/29/2008 |
5 |
|
| 50 Aug 2008 4.00 WM PUT (WMTH) |
SP |
$ 560.00 |
7/25/2008 |
$ 3,740.00 |
8/4/2008 |
10 |
|
| 5000 Washington Mutual Inc. (WM) |
LS |
$ 19,620.00 |
7/24/2008 |
$ 27,480.00 |
7/31/2008 |
7 |
|
| Total Gain/Loss for WM |
|
| Total Gain/Loss |
|
